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 third four-week period (December 6, 2010 – January 2, 2011) and the twelve-week period (October 11, 2010 – January 2, 2011) of the third fiscal quarter 2011.
For the third four-week period, total restaurant sales increased 3.4% to $26.9 million from $26.0 million, while Company-wide comparable restaurant sales increased 3.9% representing the eleventh consecutive period of comparable restaurant sales increases. By concept, comparable restaurant sales increased 5.6% at Benihana Teppanyaki and 0.5% at RA Sushi, but decreased 1.4% at Haru. There were a total of 388 store-operating weeks in the third four-week period of the third fiscal quarter 2011 compared to a total of 392 store-operating weeks in the third four-week period of the third fiscal quarter 2010.
For the twelve-week period, total restaurant sales increased 3.6% to $72.6 million in the third fiscal quarter 2011 from $70.1 million in the third fiscal quarter 2010, while Company-wide comparable restaurant sales increased 4.4%, representing the fourth consecutive quarter of comparable restaurant sales increases. By concept, comparable restaurant sales increased 7.3% at Benihana Teppanyaki, but decreased 1.5% at RA Sushi and 1.1% at Haru. There were a total of 1,158 store-operating weeks in the third fiscal quarter 2011 compared to a total of 1,176 store-operating weeks in the third fiscal quarter 2010.
Richard C. Stockinger, Chairman, Chief Executive Officer and President, said, “We are delighted to have ended the recent holiday season on solid ground with yet another period of comparable sales growth. Despite having launched the Benihana Teppanyaki Renewal Program 15 months ago, which makes year-over-year comparisons more challenging, our rejuvenated flagship concept continues to demonstrate its brand relevance, with quarterly traffic trends up 11.4% compared to the same quarter a year ago. We are also encouraged by RA Sushi’s return to positive territory, and are making progress with our current promotional and marketing efforts in strengthening both of our sushi brands.”