In an attempt to expand its presence in the market of Florida,
popular casual dining restaurateur
BJ's Restaurants, Inc.
), recently unveiled a BJ's Restaurant & Brewhouse outlet in
Coral Springs, Fla. Apart from this unit, BJ's operates two
other restaurants in South Florida.
The restaurant, positioned at a pad site on North University
Drive, marks BJ's Restaurant & Brewhouse's debut in Coral
Springs. The 8,500 square feet restaurant accommodates around 280
diners at a time.
We believe that the spacious new unit with its signature food
offerings including deep-dish pizza, handcrafted beer and famous
Pizookie(R) dessert and contemporary ambience will add to the
In the past few years BJ's strengthened its presence in the
markets of California and Texas. However, it is now venturing
into other potential markets that offer plenty of growth
opportunities. Florida is a relatively newer market for the
company with only 13 restaurants compared to 62 units in
The restaurant industry in Florida is considered as one of the
largest in the U.S. According to the National Restaurant
Association, the state's restaurants are expected to record $33.3
billion in sales in 2013. We consider this opening favorable for
BJ's further expansion plans in the state.
Among the casual dining chains, BJ's Restaurants is one of the
few chains that have been expanding in an uncertain economy. The
latest opening marks the ninth of the company's targeted 17 new
openings in 2013. In the long run, there still exists the
possibility of opening at least 425 outlets in the U.S.
BJ's currently carries a Zacks Rank #4 (Sell). Some other
players in the restaurant industry which are expected to perform
well, going ahead, include
Burger King Worldwide, Inc.
Buffalo Wild Wings Inc.
Cracker Barrel Old Country Store, Inc.
). All these companies carry a Zacks Rank #2 (Buy).
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