Benihana Inc. Reports Total Restaurant Sales & Comparable Restaurant Sales for the First Four Weeks of the Second Fiscal Quar...
August 23 2010 - 8:30AM
Business Wire
Benihana Inc. (NASDAQ: BNHNA; BNHN), operator of the nation’s
largest chain of Japanese theme and sushi restaurants, today
reported total restaurant sales and comparable restaurant sales for
the first four weeks (July 19 - August 15, 2010) of the second
fiscal quarter 2011 compared to the same four-week period for the
second fiscal quarter 2010 (July 20 - August 16, 2009). These
results demonstrate continued positive momentum resulting from the
company’s implementation of its renewal program.
Total restaurant sales increased 4.2% to $25.2 million from
$24.2 million, while Company-wide comparable restaurant sales
increased 4.3%, representing the 6th consecutive period with
comparable restaurant sales increases. By concept, comparable
restaurant sales increased 7.3% at Benihana teppanyaki, while the
impact of macro-economic weakness caused decreases of 1.2% at RA
Sushi and 0.6% at Haru. There were a total of 388 store-operating
weeks during the first four weeks of the second fiscal quarter 2011
compared to a total of 393 store-operating weeks during the first
four weeks of the second fiscal quarter 2010.
Richard C. Stockinger, Chief Executive Officer and President,
said, “We are pleased with the traffic gains (up 9.7%) at Benihana
teppanyaki, which drove our sales momentum during the four-week
period. Our renewal program continues to result in visits by both
new and lapsed guests to our flagship brand. Our Chef’s Table email
database, which since its introduction in April 2009 has grown to
approximately 1.2 million subscribers, and our Chef’s Special
promotions during the period, featuring ‘shrimp and chicken for 2’
for $35 and ‘hibachi steak for 2’ for $37, also proved effective in
encouraging guests to enjoy our Benihana teppanyaki restaurants.
While renewed softness in the overall economy led to a sequential
slowdown at RA Sushi and Haru from the first fiscal quarter, we are
encouraged that both brands were off only marginally from year-ago
sales levels.”
About Benihana Benihana Inc. (NASDAQ: BNHNA; BNHN)
operates 97 restaurants nationwide, including 63 Benihana
teppanyaki restaurants, nine Haru sushi restaurants, and 25 RA
Sushi Bar restaurants. Under development at present is one Benihana
teppanyaki restaurant. In addition, 20 franchised Benihana
teppanyaki restaurants are operating in the U.S., Latin America and
the Caribbean.
To learn more about the Company and its three Japanese theme and
sushi restaurant concepts, please view the corporate video at
www.benihana.com/about/video.
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