BJ's said late Thursday it grew quarterly earnings by 30%, leading analysts to raise their price targets on the casual dining company, citing its flexibility in pricing and push to offer "small bites" menu choices. BJ's booked a profit of $8.2 million, or 28 cents a share, on revenue growth of 17% to $152.9 million. Ruby Tuesday also reported late Thursday, though its profit fell 33.8%. It missed expectations, which the company attributed to greater advertising spending and impairment costs, which offset an increase in revenue.
Chipotle has raised menu prices to help cover higher costs for ingredients like beef and avocados. Its quarterly earnings did rise 9% to $50.7 million, or $1.64 a share on an adjusted basis, but analysts had been looking for a profit of $1.68 a share. Revenue jumped 22% to $571.6 million. On Wednesday, Cheesecake Factory ( CAKE) matched quarterly profit estimates but offered weaker-than-expected guidance, disappointing investors, as higher food costs pressured its results as well. The casual dining chain also has plans to raise menu prices. Cheesecake Factory's net income surged 28.6% to $24.7 million, or 42 cents a share. Revenue grew 2.8% to $430.7 million, falling short of expectations for a top-line figure of $434.6 million. And last week, Yum! Brands ( YUM), the operator of KFC, Taco Bell and Pizza Hut, beat Wall Street expectations for its second-quarter results on strong sales growth in China.
Yum booked a 10.5% jump in second-quarter earnings to $316 million, or 65 cents a share. Total revenue rose 9.7% to $2.82 billion from $2.57 billion a year ago. Shares of McDonald's rose 3.1% to $89.25 in morning trading Friday. BJ's Restaurants fell 1.4% to $51.27. Ruby Tuesday shed 10.7% to $9.87. Chipotle added 0.7% to $330.41, Cheesecake Factory edged 0.2% lower to $31.01, and Yum gained 0.3% to $54.64. -- Written by Miriam Marcus Reimer in New York. >To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: email@example.com.
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