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Baron Funds Comments on BJ's Restaurants Inc.
Posted by: guruhl (IP Logged)
Date: August 23, 2012 08:02PM
From Baron Funds' second quarter commentary:
BJ's Restaurants, Inc. (BJ) is a leading operator of "premium-casual" restaurants and is one of the fastest growing chains in the U.S.We first invested in BJ's in 2005 when new management came to run the business.We sold our stock after a nice gain and we have been anxious to get back involved for some time. BJ's offers an extensive menu with signature products (pizza and beer) at a value price point. The stores are contemporary and high quality in design and offer a fun, high energy dining environment. Management has instilled an unwavering focus on quality – of location, of product, of service, of execution – that has led to great economic returns and a concept that has successfully traveled to new markets from its home in California.We believe there will ultimately be over 600 stores in the chain from a base of 125 today and we think earnings can compound at a high rate as the chain is built out.
Guru Discussed: Ron Baron: Current Portfolio, Stock Picks
Stocks Discussed: BJ,
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