Benihana is the largest chain of Japanese theme and sushi restaurants in the U.S. (Photo: Benihana)

COMPANY OF THE WEEK: Benihana Reports Robust Performance

Benihana Inc. (NASDAQ: BNHNA; BNHN), operator of the United States largest chain of Japanese theme and sushi restaurants, has 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.

The RA Sushi concept offers sushi and a full menu of Pacific-Rim

For the third four-week period, total restaurant sales increased 4.6 percent to USD 23.1 million from USD 22.0 million, while Company-wide comparable restaurant sales increased 5.7 percent, representing the eighth consecutive four-week period of comparable restaurant sales increases. By concept, comparable restaurant sales increased 8.7 percent at Benihana Teppanyaki and 0.9 percent at RA Sushi, but decreased 0.6 percent 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.

Benihana operates 97 restaurants in the U.S., including 63 Benihana Teppanyaki restaurants, nine Haru sushi restaurants, and 25 RA Sushi Bar restaurants

For the twelve-week period, total restaurant sales increased 4.1 percent to USD 71.8 million in the second fiscal quarter 2011 from USD 69.0 million in the second fiscal quarter 2010, while Company-wide comparable restaurant sales increased 4.7 percent, representing the third consecutive quarter of comparable restaurant sales increases.

Benihana operates two other Asian restaurant concepts: RA Sushi and Haru

By concept, comparable restaurant sales increased 7.9 percent at Benihana Teppanyaki, but decreased 0.9 percent at RA Sushi and 1.0 percent 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.

22 franchised Benihana teppanyaki restaurants are operating in the United States, Latin America and the Caribbean

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 percent), 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."

About Benihana Inc.

Benihana Inc. (NASDAQ: BNHNA; BNHN) is an operator of teppanyaki-style restaurants. It operates two other Asian restaurant concepts: RA Sushi and Haru.

The Benihana teppanyaki restaurant, offers teppanyaki-style Japanese cuisine in which fresh steak, chicken and seafood are prepared by a chef on a steel teppan grill at the center of the guests’ table.The RA Sushi concept offers sushi and a full menu of Pacific-Rim dishes featuring upbeat design elements and contemporary music. The Haru concept offers an extensive menu of Japanese and Japanese fusion dishes in a modern, urban atmosphere, as well as take-out and delivery services.

As of June 11, 2010, the Company owned and operated 63 Benihana teppanyaki restaurants, including one restaurant under the name Samurai; franchised 22 additional Benihana teppanyaki restaurants; owned and operated 25 RA Sushi restaurants, and owned and operated nine Haru restaurants.

In addition, 20 franchised Benihana teppanyaki restaurants are operating in the United States, Latin America and the Caribbean.

Photos and Video: Benihana Inc.

Margaret E.L. Stacey
Editor Companies and Products
editorial@seafood.media
www.seafood.media

Address:	8685 NW 53rd Terrace
City:	Miami
State/ZIP:	Florida (33166-4537)
Country:	United States
Phone:	+1 305 593 0770
Fax:	+1 305 592 6371
More about:

Print