Executives credited the chain's low price points for sushi driving its "top-line momentum." However, revenues were impacted by $2.5 million due to the temporary closure of some units during renovations.
Same-store sales at Benihana's 58-unit namesake brand were up 9.3%. At the company's 11 RA Sushi Bar locations, comparable sales soared 12.8%, and same-store sales at its seven-unit Haru sushi concept shot up 10.3%.
The company has 10 restaurants under development – six RA Sushis, three Benihanas, and one Haru. Benihana also has 17 franchised units operating in the US, Latin America and the Caribbean.
During its first quarter, which ended July 16, the company earned $45 million, an increase from the same year-ago period, though earnings per share fell from 44 cents to 40 cents. Same-store sales during that period rose 9.2%.
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