Benihana Inc. Reports Total Restaurant Sales & Comparable Restaurant Sales for the First Four-Week Period of the Fourth Fisca...
February 03 2011 - 5:25PM
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 (January 3, 2011 – January 30, 2011) of
the fourth fiscal quarter 2011.
Total restaurant sales and Company-wide comparable restaurant
sales increased 4.4% to $25.6 million from $24.5 million. The
January four-week period also marked the twelfth consecutive period
of comparable restaurant sales growth. By concept, comparable
restaurant sales increased 5.7% at Benihana Teppanyaki and 5.2% at
RA Sushi, but decreased 6.1% at Haru. There were a total of 388
store-operating weeks in the first four-week period of the fourth
fiscal quarter 2011 compared to a total of 392 store-operating
weeks in the first four-week period of the fourth fiscal quarter
2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and
President, said, “The recent four-week period is indicative of the
positive sales momentum that our Company has been experiencing for
some time, and will hopefully serve as the basis for a sustained
level of performance during the new calendar year. Benihana
Teppanyaki continued to realize incremental benefits from the
Renewal Program launched 15 months ago, including a 7.3% increase
in guest counts, while RA Sushi generated its highest comparable
sales result in more than a year. Unfortunately, given its
concentration in the Northeast, Haru was severely impacted by the
harsh winter weather, which resulted in disappointing volumes. That
being said, setbacks due to blizzards are of course temporary, and
we are optimistic that when weather conditions in the region begin
to improve, Haru comparable sales trends will return to more
normalized levels.”
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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