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 (October 11 – November 7, 2010) of the third fiscal quarter 2011.
For the first four-week period, total restaurant sales increased 3.7% to $23.0 million from $22.2 million, while Company-wide comparable restaurant sales increased 4.8%, representing the ninth consecutive period of comparable restaurant sales increases. By concept, comparable restaurant sales increased 8.2% at Benihana Teppanyaki, but fell 1.3% at RA Sushi with Haru decreasing slightly at 0.2%. There were a total of 384 store-operating weeks in the first four-week period of the third fiscal quarter 2011 compared to a total of 392 store-operating weeks in the first four-week period of the third fiscal quarter 2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and President, said, “We are extremely pleased with our comparable sales results as the exceptionally strong guest counts (up 11.8%) at Benihana Teppanyaki more than offset the slightly negative trends at our sushi brands. Our flagship concept’s top-line performance, while impressive in absolute terms, is especially noteworthy since the anniversary of the introduction of the Renewal Program occurred during the recent four-week period. Given the continued benefits we realized from the program itself, along with the success of our ongoing promotional and marketing initiatives, we are confident in our positioning and look forward to celebrating the upcoming Holiday season with our guests.”