Exhibit 99.1

 

LOGO

FOR IMMEDIATE RELEASE

J. Alexander’s Holdings, Inc. Reports Results

For Fourth Quarter And Full Year Ended December 30, 2018

Net Sales Up 3% For Fourth Quarter

NASHVILLE, TN, March 11, 2019 — J. Alexander’s Holdings, Inc. (NYSE: JAX) (the Company), owner and operator of J. Alexander’s, Redlands Grill, Stoney River Steakhouse and Grill and selected other restaurants, today reported financial results for the fourth quarter ended December 30, 2018. The Company’s fiscal year ends on the Sunday closest to December 31 each year and therefore, as fiscal 2018 began on January 1, 2018, the benefit of New Year’s Eve activity, which is typically one of the Company’s highest volume days during the year, is not reflected in the Company’s reported results for any of the periods comprising annual results for 2018.

Fourth Quarter 2018 Highlights Compared To The Fourth Quarter Of 2017

 

   

Net sales were $63,205,000, an increase of 3.0% from $61,338,000 reported in the fourth quarter of 2017.

 

   

For the J. Alexander’s/Grill restaurants, average weekly same store sales per restaurant (1) were $115,800, a gain of 0.3% from $115,500 reported in the fourth quarter of 2017. For the Stoney River Steakhouse and Grill restaurants, average weekly same store sales per restaurant were $85,400, up 2.4% from $83,400 recorded in the fourth quarter of 2017.

 

   

The Company recorded a loss from continuing operations before income taxes of $470,000 for the fourth quarter of 2018 compared to income from continuing operations before income taxes of $4,340,000 in the corresponding quarter of the prior year. The principal factor impacting income for the fourth quarter of 2018 was the non-recurring transaction expense of $4,560,000 related to the termination of the consulting agreement (“Consulting Agreement”) between Black Knight Advisory Services, LLC (“Black Knight”) and the Company announced on November 30, 2018

 

1


The following information was filed by J. Alexander's Holdings, Inc. (JAX) on Monday, March 11, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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