MIAMI, July 30, 2012 /PRNewswire/ -- Benihana Inc.
(NASDAQ: 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 fiscal quarter of
fiscal year 2013. The announcement marks the Company's tenth
consecutive quarter, and thirty-first consecutive period, of
comparable restaurant sales growth.
(Logo: http://photos.prnewswire.com/prnh/20110513/NY02073LOGO)
The Company also announced that its Benihana Teppanyaki brand
ranked number one in the highly-respected Knapp-Track comparable
sales survey for the calendar months of May and June 2012, building on the Company's impressive
number one Knapp-Track ranking for all of calendar year 2011.
For the first fiscal quarter ended July
22, 2012, total restaurant sales increased year over year by
3.8% to $109.7 million from
$105.7 million, and Company-wide
comparable restaurant sales increased by 4.5%. As a result of
a 53rd week of operating results included in the 2012
fiscal year, fiscal year 2013 comparable sales results are reported
on a one-week adjusted basis. By concept, comparable
restaurant sales increased 6.4% at Benihana Teppanyaki, 0.7% at RA
Sushi and 0.9% at Haru. These results were driven by dine-in
traffic growth of 3.6% at Benihana Teppanyaki.
Richard C. Stockinger, Chairman,
President and Chief Executive Officer of Benihana Inc., said, "We
are extremely pleased with yet another quarter of excellent sales
growth driven primarily by increased traffic at our Benihana
Teppanyaki brand. Benihana Inc. has now produced ten consecutive
quarters of comparable restaurant sales growth in a very difficult
consumer and economic environment.
"It is an honor for our core Benihana Teppanyaki brand to be
ranked number one in the prestigious Knapp-Track comparable sales
survey for May and June 2012, and we
are especially pleased with these results given that we are
following a number one Knapp-Track ranking for the full calendar
year 2011. This continued performance momentum reflects the
inherent strength of this iconic brand and the outstanding efforts
of our entire Benihana team."
During the quarter, Benihana Teppanyaki represented
approximately 68% of total restaurant sales, while RA Sushi and
Haru accounted for 23% and 9% of total restaurant sales,
respectively. There were 1,520 store-operating weeks in the first
fiscal quarter of 2013 compared to 1,540 store-operating weeks in
the same period of the prior year. One Benihana Teppanyaki
restaurant was permanently closed in late fiscal 2012 and one Haru
restaurant was permanently closed in early fiscal 2012, both of
which are excluded from reported comparable sales results for the
current year.
About Benihana
Headquartered in Miami,
Benihana Inc. (NASDAQ: BNHN) is the nation's leading operator of
Japanese theme and sushi restaurants with 95 restaurants
nationwide, including 62 Benihana restaurants, eight Haru sushi
restaurants and 25 RA Sushi restaurants. In addition, 16 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 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.
Contact
Jeremy Fielding or Anntal
Silver
Kekst and Company
(212) 521-4800
SOURCE Benihana Inc.