Benihana Inc. Reports Total Restaurant Sales & Comparable Restaurant Sales for the Third Four-Week Period & Twelve-Week Perio...
January 06 2011 - 4:53PM
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 (December 6, 2010 – January 2, 2011) and
the twelve-week period (October 11, 2010 – January 2, 2011) of the
third fiscal quarter 2011.
For the third four-week period, total restaurant sales increased
3.4% to $26.9 million from $26.0 million, while Company-wide
comparable restaurant sales increased 3.9% representing the
eleventh consecutive period of comparable restaurant sales
increases. By concept, comparable restaurant sales increased 5.6%
at Benihana Teppanyaki and 0.5% at RA Sushi, but decreased 1.4% at
Haru. There were a total of 388 store-operating weeks in the third
four-week period of the third fiscal quarter 2011 compared to a
total of 392 store-operating weeks in the third four-week period of
the third fiscal quarter 2010.
For the twelve-week period, total restaurant sales increased
3.6% to $72.6 million in the third fiscal quarter 2011 from $70.1
million in the third fiscal quarter 2010, while Company-wide
comparable restaurant sales increased 4.4%, representing the fourth
consecutive quarter of comparable restaurant sales increases. By
concept, comparable restaurant sales increased 7.3% at Benihana
Teppanyaki, but decreased 1.5% at RA Sushi and 1.1% at Haru. There
were a total of 1,158 store-operating weeks in the third fiscal
quarter 2011 compared to a total of 1,176 store-operating weeks in
the third fiscal quarter 2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and
President, said, “We are delighted to have ended the recent holiday
season on solid ground with yet another period of comparable sales
growth. Despite having launched the Benihana Teppanyaki Renewal
Program 15 months ago, which makes year-over-year comparisons more
challenging, our rejuvenated flagship concept continues to
demonstrate its brand relevance, with quarterly traffic trends up
11.4% compared to the same quarter a year ago. We are also
encouraged by RA Sushi’s return to positive territory, and are
making progress with our current promotional and marketing efforts
in strengthening both of our sushi brands.”
About Benihana
Headquartered in Miami, Benihana Inc. (NASDAQ: BNHNA; BNHN) is
the nation's leading operator of Japanese theme and sushi
restaurants with 97 restaurants nationwide, including 63 Benihana
Teppanyaki restaurants, nine Haru sushi restaurants, and 25 RA
Sushi restaurants. In addition, 20 franchised Benihana Teppanyaki
restaurants are operating in the United States, Latin America and
the Caribbean.
To learn more about Benihana Inc. and its three restaurant
concepts, please view the corporate video at
www.benihana.com/about/video.
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 Benihana, including, without
limitation: risks related to Benihana’s business strategy,
including the Renewal Program and marketing programs; risks related
to Benihana’s ability to operate successfully in the current
challenging economic environment; risks related to Benihana’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 Benihana 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 Benihana’s filings with the
Securities and Exchange Commission, including, without limitation,
the risks and uncertainties discussed under the heading “Risk
Factors” in such filings. Benihana 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.
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