Benihana Inc. Reports Total Restaurant Sales & Comparable Restaurant Sales Results for the First Four-Week Period of the Firs...
April 29 2011 - 8:30AM
Business Wire
Benihana Inc. (NASDAQ GS: BNHN, BNHNA), 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 (March 28, 2011 – April 24, 2011) of the
first fiscal quarter 2012.
For the first four-week period, both total restaurant sales and
Company-wide comparable restaurant sales increased 5.8% to $26.7
million from $25.3 million, representing the fifteenth consecutive
period of comparable restaurant sales growth. By concept,
comparable restaurant sales increased 9.0% at Benihana Teppanyaki
(including 8.7% traffic growth) and 2.2% at RA Sushi, but decreased
5.3% at Haru.
Benihana Teppanyaki represented approximately 67% of total
restaurant sales, while RA Sushi and Haru accounted for 24% and 9%
of total restaurant sales, respectively. There were 388
store-operating weeks in the first four-week periods of both fiscal
quarters.
Richard C. Stockinger, Chairman, Chief Executive Officer and
President, said, “Fiscal 2012 got off to a strong start, as
marketing and promotional activities related to the Renewal Program
proved effective in generating robust comparable sales primarily
driven by guest traffic gains at Benihana Teppanyaki. RA Sushi also
continued its track record of comparable sales growth, and has now
generated positive results for five consecutive periods. Softness
in Haru’s top line, however, was due to relatively cold weather in
April that negatively impacted patio seating at six restaurants
with construction scaffolding outside of two of those locations
further impeding guest traffic. With warmer May weather nearly upon
us, we are hopeful that guests will begin to feel more comfortable
dining on our patios and thereby contribute to improving Haru’s
sales trends.”
About Benihana
Headquartered in Miami, Benihana Inc. (NASDAQ GS: BNHN, BNHNA)
is the nation's leading operator of Japanese theme and sushi
restaurants with 97 restaurants nationwide, including 63 Benihana
restaurants, nine Haru sushi restaurants, and 25 RA Sushi
restaurants. In addition, 20 franchised Benihana 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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