Benihana Inc. Reports Total Restaurant Sales & Comparable Restaurant Sales for the Third Four-Week Period & Twelve-Week Perio...
October 14 2010 - 4:01PM
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 third four-week period (September 13 – October 10, 2010) and
the twelve-week period (July 19 - October 10, 2010) of the second
fiscal quarter 2011.
For the third four-week period, total restaurant sales increased
4.6% to $23.1 million from $22.0 million, while Company-wide
comparable restaurant sales increased 5.7%, representing the eighth
consecutive four-week period of comparable restaurant sales
increases. By concept, comparable restaurant sales increased 8.7%
at Benihana Teppanyaki and 0.9% at RA Sushi, but decreased 0.6% at
Haru. There were a total of 384 store-operating weeks in the third
four-week period of the second fiscal quarter 2011 compared to a
total of 392 store-operating weeks in the third four-week period of
the second fiscal quarter 2010.
For the twelve-week period, total restaurant sales increased
4.1% to $71.8 million in the second fiscal quarter 2011 from $69.0
million in the second fiscal quarter 2010, while Company-wide
comparable restaurant sales increased 4.7%, representing the third
consecutive quarter of comparable restaurant sales increases. By
concept, comparable restaurant sales increased 7.9% at Benihana
Teppanyaki, but decreased 0.9% at RA Sushi and 1.0% at Haru. There
were a total of 1,160 store-operating weeks in the second fiscal
quarter 2011 compared to a total of 1,179 store-operating weeks in
the second fiscal quarter 2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and
President, said, “We continue to see increasing momentum in our
business, and ended the quarter on a ‘high note’, with our best
sales performance occurring during the most recent four-week
period. Benihana Teppanyaki’s robust trends were the result of
strong traffic gains (up 10%), which we attribute to the Renewal
Program itself, our recent Chef’s Special promotions, as well as
our effective marketing programs. At our sushi brands, RA Sushi
returned to positive territory after several periods of declining
trends, and even Haru realized a sequential improvement from the
previous four-week period. All in all, we are pleased with our
performance across all three brands, especially in Teppanyaki,
where our comparable restaurant sales are at the forefront of the
industry.”
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 Benihana 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. 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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