MIAMI, July 21, 2011 /PRNewswire/ -- Benihana Inc.
(NASDAQ: 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 fourth
four-week period (June 20, 2011 –
July 17, 2011) and the sixteen-week
period of the first fiscal quarter of 2012. The announcement marks
the Company's eighteenth consecutive four-week period and its sixth
consecutive quarter of comparable restaurant sales growth.
(Logo: http://photos.prnewswire.com/prnh/20110513/NY02073LOGO
)
For the fourth four-week period, total restaurant sales
increased year over year by 6.3% to $25.4
million from $23.9 million,
and Company-wide comparable restaurant sales increased by 6.7% to
$25.4 million from $23.8 million. By concept, comparable restaurant
sales increased 8.1% at Benihana Teppanyaki (including 5.6% traffic
growth), 5.5% at RA Sushi and 0.5% at Haru.
During the fourth four-week period, Benihana Teppanyaki
represented approximately 66% of total restaurant sales, while RA
Sushi and Haru accounted for 25% and 9% of total restaurant sales,
respectively. There were 384 store-operating weeks in the fourth
four-week period of the first fiscal quarter of 2012 compared to
388 store-operating weeks in the fourth four-week period of the
first fiscal quarter of 2011.
For the sixteen-week first fiscal quarter of 2012, total
restaurant sales increased year over year by 5.7% to $106.0 million from $100.2
million, and Company-wide comparable restaurant sales
increased by 6.0% to $106.0 million
from $100.0 million. By concept,
comparable restaurant sales increased 8.6% at Benihana Teppanyaki
(including 7.2% traffic growth) and 2.4% at RA Sushi and decreased
1.9% at Haru.
During the quarter, 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 1,541 store-operating weeks in the first
fiscal quarter of 2012 compared to 1,552 store-operating weeks in
the first fiscal quarter of 2011.
Richard C. Stockinger, Chairman,
President and Chief Executive Officer of Benihana Inc., said, "We
are off to a tremendous start in fiscal 2012. By continuing to
execute our Benihana Teppanyaki Renewal Program, we have vastly
improved the guest experience at our namesake restaurants, which
have delivered consistently robust sales growth over the last six
fiscal quarters. We are also very pleased by the numbers at our RA
Sushi concept as well as Haru, which improved over the same
four-week period last year despite the presence of scaffolding
outside several of its locations. The sustained momentum we are
seeing in our top-line performance is a credit to the hard work of
the entire organization."
About Benihana
Headquartered in Miami,
Benihana Inc. (NASDAQ GS: BNHN, BNHNA) is the nation's leading
operator of Japanese theme and sushi restaurants with 96
restaurants nationwide, including 63 Benihana restaurants, eight
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.
Contact
Jeremy Fielding/James David
Kekst and Company
(212) 521-4800
SOURCE Benihana Inc.