Benihana Inc., operator of the nation’s largest chain of Japanese theme and sushi restaurants, today reported total restaurant sales and comparable restaurant sales for the third four-week period (February 28, 2011 – March 27, 2011), the twelve-week period (January 3, 2011 – March 27, 2011) of the fourth fiscal quarter 2011, as well as the 52-week period (March 29, 2010 – March 27, 2011) of the fiscal year 2011.
For the third four-week period, both total restaurant sales and Company-wide comparable restaurant sales increased 7.0% to $27.9 million from $26.1 million, representing the fourteenth consecutive period of comparable restaurant sales growth. By concept, comparable restaurant sales increased 9.9% at Benihana Teppanyaki (including an 8.6% traffic gain) and 3.7% at RA Sushi, but decreased 3.8% at Haru. There were a total of 388 store-operating weeks in the third four-week period of the fourth fiscal quarter 2011 compared to a total of 390 store-operating weeks in the third four-week period of the fourth fiscal quarter 2010.
For the twelve-week period, both total restaurant sales and Company-wide comparable restaurant sales increased 5.6% to $81.4 million from $77.1 million, representing the fifth consecutive quarter of comparable restaurant sales growth. By concept, comparable restaurant sales increased 7.6% at Benihana Teppanyaki (including an 8.2% traffic gain) and 3.4% at RA Sushi, but decreased 2.7% at Haru. There were a total of 1,164 store-operating weeks in the fourth fiscal quarter 2011 compared to a total of 1,174 store-operating weeks in the fourth fiscal quarter 2010.
For the 52-week period, total restaurant sales increased 4.5% to $325.9 million from $311.8 million, while Company-wide comparable restaurant sales increased 4.2% to $322.2 million from $309.2 million. By concept, comparable restaurant sales increased 6.3% at Benihana Teppanyaki (including a 7.8% traffic gain) and 0.3% at RA Sushi, but decreased 0.4% at Haru. There were a total of 5,034 store-operating weeks in the fiscal year 2011 compared to a total of 5,060 store-operating weeks in the fiscal year 2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and President, said, “We are thrilled with the exceptional top-line results at Benihana Teppanyaki during the recent four-week period which concluded an outstanding fiscal year. Our sales growth and traffic gain are a testament to the measurable success of our Renewal Program. We are proud of what we have accomplished in reinvigorating the quality and value proposition of Benihana’s brand over the past year and are pleased that our efforts are being so well-received by our loyal guests.”
Stockinger concluded, “RA Sushi posted a solid performance during the March period, as sales results continued to improve on a sequential basis, and have been positive for four consecutive periods. Haru’s recent softness, on the other hand, is a direct result of unfortunate weather in the New York metropolitan area, which lingered well into March. With the Spring season now upon us, we are hopeful that Haru’s sales trends will improve from current levels.”