Benihana Inc. (NASDAQ: BNHNA; 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 four-week period (January 3, 2011 – January 30, 2011) of the fourth fiscal quarter 2011.
Total restaurant sales and Company-wide comparable restaurant sales increased 4.4% to $25.6 million from $24.5 million. The January four-week period also marked the twelfth consecutive period of comparable restaurant sales growth. By concept, comparable restaurant sales increased 5.7% at Benihana Teppanyaki and 5.2% at RA Sushi, but decreased 6.1% at Haru. There were a total of 388 store-operating weeks in the first four-week period of the fourth fiscal quarter 2011 compared to a total of 392 store-operating weeks in the first four-week period of the fourth fiscal quarter 2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and President, said, “The recent four-week period is indicative of the positive sales momentum that our Company has been experiencing for some time, and will hopefully serve as the basis for a sustained level of performance during the new calendar year. Benihana Teppanyaki continued to realize incremental benefits from the Renewal Program launched 15 months ago, including a 7.3% increase in guest counts, while RA Sushi generated its highest comparable sales result in more than a year. Unfortunately, given its concentration in the Northeast, Haru was severely impacted by the harsh winter weather, which resulted in disappointing volumes. That being said, setbacks due to blizzards are of course temporary, and we are optimistic that when weather conditions in the region begin to improve, Haru comparable sales trends will return to more normalized levels.”