Benihana Inc. Reports Total Restaurant Sales & Comparable Restaurant Sales for the Second Four Week Period of the Second Fisc...
September 16 2010 - 5:13PM
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 second four week period (August 16 – September 12, 2010) of the
second fiscal quarter 2011 compared to the same four week period
for the second fiscal quarter 2010 (August 17 – September 13,
2009). These results demonstrate continued positive momentum
resulting from the company’s implementation of its Renewal
Program.
Total restaurant sales increased 3.5% to $23.5 million from
$22.7 million, while Company-wide comparable restaurant sales
increased 4.2%, representing the 7th consecutive period with
comparable restaurant sales increases. By concept, comparable
restaurant sales increased 7.8% at Benihana teppanyaki, while the
impact of macro-economic weakness caused decreases of 2.2% at RA
Sushi and 2.1% at Haru. There were a total of 388 store-operating
weeks during the second four weeks of the second fiscal quarter
2011 compared to a total of 394 store-operating weeks during the
second four weeks of the second fiscal quarter 2010.
Richard C. Stockinger, Chief Executive Officer and President,
said, “We believe these four week sales results, including traffic
gains at Benihana teppanyaki of 7.2%, are among the strongest in
the upscale casual segment of the industry and lend further
credence to the soundness of our business strategy and management’s
ability to execute successfully despite what remains both a
challenging and competitive environment. New and returning guests
are embracing our flagship brand, with our marketing programs
continuing to attract interest and resulting in increasing guest
traffic. Even as we continue to turn around our iconic brand, we
are also focusing on strengthening our other brands which are
disproportionately impacted by the ongoing macro-economic
weakness.”
Safe Harbor Statement
Except for the historical matters contained herein, statements
in this press release are forward-looking and are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that forward-looking
statements involve risks and uncertainties that may affect the
business and prospects of the Company, including, without
limitation: risks related to the Company’s business strategy,
including the Company’s Renewal Program and marketing programs;
risks related to the Company’s ability to operate successfully in
the current challenging economic environment; risks related to the
Company’s efforts to strengthen its teppanyaki concept and build
its RA Sushi and Haru brands; and other risks and uncertainties
that may cause results to differ materially from those set forth in
the forward-looking statements. Past performance may not be
indicative of future results. In addition to the risks and
uncertainties set forth above, investors should consider the risks
and uncertainties discussed in the Company’s filings with the
Securities and Exchange Commission, including, without limitation,
the risks and uncertainties discussed under the heading “Risk
Factors” in such filings.
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. 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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