Benihana Inc. Reports Total Restaurant Sales & Comparable Restaurant Sales for the First Four-Week Period of the Third Fiscal...
November 15 2010 - 8:00AM
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-week period (October 11 – November 7, 2010) of the
third fiscal quarter 2011.
For the first four-week period, total restaurant sales increased
3.7% to $23.0 million from $22.2 million, while Company-wide
comparable restaurant sales increased 4.8%, representing the ninth
consecutive period of comparable restaurant sales increases. By
concept, comparable restaurant sales increased 8.2% at Benihana
Teppanyaki, but fell 1.3% at RA Sushi with Haru decreasing slightly
at 0.2%. There were a total of 384 store-operating weeks in the
first four-week period of the third fiscal quarter 2011 compared to
a total of 392 store-operating weeks in the first four-week period
of the third fiscal quarter 2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and
President, said, “We are extremely pleased with our comparable
sales results as the exceptionally strong guest counts (up 11.8%)
at Benihana Teppanyaki more than offset the slightly negative
trends at our sushi brands. Our flagship concept’s top-line
performance, while impressive in absolute terms, is especially
noteworthy since the anniversary of the introduction of the Renewal
Program occurred during the recent four-week period. Given the
continued benefits we realized from the program itself, along with
the success of our ongoing promotional and marketing initiatives,
we are confident in our positioning and look forward to celebrating
the upcoming Holiday season with our guests.”
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. Although the Company
believes the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, there can be no
assurance that its expectations will be realized. 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. The Company does not
undertake any obligation to publicly update any forward-looking
statement to reflect events or circumstances after the date on
which any such statement is made or to reflect the occurrence of
unanticipated events.
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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