BJ's Restaurants (BJRI) 28th Annual ICR Conference 2026 summary

Strategic priorities and operational improvements

• Focused on four strategic priorities: team member experience, menu innovation, guest experience, and fresh atmosphere.

• Strengthened foundational operations in 2025, emphasizing hospitality basics and consistency.

• Implemented outlier management and incentive alignment, leading to improved NPS and team retention.

• Menu innovation included a pizza refresh and seasonal Pizookie launches, driving guest engagement.

• Emphasis on making things better or easier for both guests and team members.

Financial performance and growth

• Achieved five consecutive quarters of positive, traffic-driven same-store sales growth through Q3 2025.

• Restaurant margins expanded by nearly 100 basis points, supporting higher EBITDA guidance for 2025.

• Free cash flow exceeds $60 million, enabling share buybacks and reinvestment in remodels and growth.

• Share repurchase program is structured and activated when the stock is undervalued.

• Capital allocation prioritizes remodels, growth-driving investments, and disciplined share repurchases.

Traffic and marketing drivers

• Traffic growth attributed to operational improvements, high NPS, and team retention.

• Pizookie Meal Deal and seasonal LTOs attract new and returning guests, especially younger cohorts.

• Marketing leverages social media, influencers, and word of mouth for product launches.

• Pizza category refresh reinforced menu quality and generated social buzz.

• Agility in marketing and product timing, such as advancing the Dubai Chocolate Pizookie launch.