J. Alexander's Holdings, Inc. (JAX)

[MoneyForNuthin]

$JAX Sales in Recent Months Reach Almost 90% of Prior Year Levels

https://www.businesswire.com/news/home/20201105005638/en/J.-Alexander%E2%80%99s-Holdings-Inc.-Reports-Results-for-Third-Quarter-Ended-September-27-2020-and-Provides-Business-Update-for-October-Sales-in-Recent-Months-Reach-Almost-90-of-Prior-Year-Levels

J. ALEXANDER’S HOLDINGS, INC. REPORTS RESULTS FOR THIRD QUARTER ENDED SEPTEMBER 27, 2020 AND PROVIDES BUSINESS UPDATE FOR OCTOBER; SALES IN RECENT MONTHS REACH ALMOST 90% OF PRIOR YEAR LEVELS

NASHVILLE, TN, November 5, 2020 — J. Alexander’s Holdings, Inc. (NYSE: JAX) (the “Company”), owner and operator of J. Alexander’s, Redlands Grill, Stoney River Steakhouse and Grill and other restaurants, today provided a business update and reported results for the third quarter ended September 27, 2020.

Mark A. Parkey, Chief Executive Officer of J. Alexander’s Holdings, Inc., stated, “I’m beyond pleased at the significant recovery that we’ve been able to achieve in recent months. In September and October 2020, our sales averaged nearly 90% of sales experienced in the same periods of 2019 – all while continuing to operate at limited capacities for dine-in service at most of our locations. I would note that none of our accomplishments during the most recent quarter would have been possible without the valiant efforts, and incredible creativity, of our talented teams at each of our 46 restaurants as well as the leadership of industry veterans that are based out of our headquarters in Nashville.”

BRIEF-J Alexanders Holdings Q3 Loss Per Share $0.12
BY Reuters
— 8:59 AM ET 11/05/2020

Nov 5 (Reuters) - J Alexanders Holdings Inc:

* J. ALEXANDER’S HOLDINGS, INC. REPORTS RESULTS FOR THIRD QUARTER ENDED SEPTEMBER 27, 2020 AND PROVIDES BUSINESS UPDATE FOR OCTOBER; SALES IN RECENT MONTHS REACH ALMOST 90% OF PRIOR YEAR LEVELS

* Q3 LOSS PER SHARE $0.12

* Q3 SALES $46.23 MILLION VERSUS $56.87 MILLION

* DURING Q3, SAW STEADY RECOVERY OF GUEST COUNTS AND INCREASING SALES ACROSS ITS RESTAURANT BASE

* OFF-PREMISE SALES DURING Q3 OF 2020 AVERAGED 15% - 20% OF TOTAL SALES ON A WEEKLY BASIS

* EXPECTS THAT UPGRADED CARRYOUT PACKAGING WILL HELP DRIVE LONG-TERM OFF-PREMISE SALES

* IS NOT PROVIDING FULL GUIDANCE FOR FISCAL 2020 Source text for Eikon: Further company coverage: