The Payroll Protection Program small-business loan program was open to any restaurant business that had no more than 500 workers per location. Some publicly traded restaurant companies tapped the money.
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A second round of relief funding is on the way for small businesses under the Payroll Protection Plan, but the legislation still contains a rule blocking most portfolio companies from tapping the cash.
A stock with a lower price-to-sales ratio is a more suitable investment than a stock with a high price-to-sales ratio.
On April 16, the $349 billion first round of the government’s Paycheck Protection Program (PPP) for small business coronavirus relief loans ran out of money after just 13 days.
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 announced the expansion of its Board of Directors (the "Board") to seven directors and the appointment of Carl J. Grassi to the Board as part of a cooperation agreement (the "Agreement") with Ancora Advisors, LLC ("Ancora"). Mr. Grassi will serve as a Class II director, with an initial term through the Company’s 2020 Annual Meeting of Shareholders (the "2020 Annual Meeting"), and the Company has agreed to include Mr. Grassi in the Company’s slate of director nominees for election at the 2020 Annual Meeting for a three-year term.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
A stock with a lower price-to-sales ratio is a more suitable investment than a stock with a high price-to-sales ratio.
Of the public companies that disclosed receiving the loans, 48 manufacturing businesses, secured $162.5 million in loans, according to Morgan Stanley. Accommodation and food services ranked a distant second.
J. Alexander Holdings Inc. said same-restaurant sales sank in the month of March, down 24.8% at the namesake grills and restaurants and down 25.6% at Stoney River Steakhouse and Grill locations. As of March 22, 45 of the company's restaurants have shifted to a carry-out model, with volumes expected to total 10% to 20% of average weekly sales. J. Alexander has drawn down its remaining credit of $17 million, bringing the cash-on-hand total to $26 million. The company thinks that will be sufficient to fund through the end of summer or early fall. Staff personnel will cut steaks and manage the carry-out business, with labor cost averaging about $425,000 per week. The company has furloughed 3,400 workers. Capital expenditures have been reduced. J. Alexander's board has suspended the strategic review of alternatives. J. Alexander stock is down 57.5% for the last 12 months while the S&P 500 index has sunk 20.1% for the period.
Despite underperforming the S&P 500 in 2019, the dynamics of small-cap stocks look appealing for 2020 on a favorable economic backdrop, with lower interest rates and easing of trade tensions.
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 reported results for the fourth quarter and full year ended December 29, 2019.
Is J. Alexander's Holdings (JAX) a great pick from the value investor's perspective right now? Read on to know more.
Houston isn't slowing down on steakhouses — two new options from Denver and Tennessee are making a splash in Houston.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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A stock's price-to-sales ratio reflects how much investors are paying for each dollar of revenues generated by the company.
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 reported same store sales changes for a portion of the first quarter of fiscal 2020 as well as certain measures that have been taken in response to the novel coronavirus outbreak (COVID-19).