MIAMI, Sept. 15, 2011 /PRNewswire/ -- Benihana Inc.
(NASDAQ: BNHN; BNHNA), operator of the nation's largest chain of
Japanese theme and sushi restaurants, today reported total
restaurant sales and comparable restaurant sales for the second
four-week period (August 15, 2011 –
September 11, 2011) of the second
fiscal quarter of 2012. The announcement marks the Company's
twentieth consecutive four-week period of comparable restaurant
sales growth.
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For the four-week period ended September
11, 2011, total restaurant sales increased year over year by
5.6% to $24.9 million from
$23.5 million, and Company-wide
comparable restaurant sales increased by 6.7% to $24.9 million from $23.4
million. By concept, comparable restaurant sales increased
8.2% at Benihana Teppanyaki and 5.9% at RA Sushi and decreased 1.6%
at Haru. These results were driven by traffic growth of 6.2% at
Benihana Teppanyaki and 2.5% at RA Sushi and traffic declines of
5.4% at Haru.
During the period, Benihana Teppanyaki represented approximately
67% of total restaurant sales, while RA Sushi and Haru accounted
for 24% and 9% of total restaurant sales, respectively. There were
383 store-operating weeks in the second four-week period of the
second fiscal quarter of 2012 compared to 388 store-operating weeks
in the second four-week period of the second fiscal quarter of
2011.
Sales related to 12 restaurants (3 Benihana Teppanyaki, 1 RA
Sushi and all 8 Haru units) were negatively impacted by reduced
operating hours or complete closure for one or more days due to the
severe weather associated with Hurricane Irene. Comparable sales
for the period excluding the impacted days in both the current and
prior-year periods would have grown 7.4%, including increases of
8.4% at Benihana Teppanyaki, 6.1% at RA Sushi and 3.0% at Haru.
None of these restaurants suffered significant physical damage and
all were operating normally soon after the severe weather
subsided.
Additionally, one Benihana Teppanyaki restaurant, located on W.
56 St. in Manhattan, began
temporary closure during the period for extensive remodeling. This
restaurant will be excluded from reported comparable sales results
during the temporary closure period, which is expected to be
completed in December 2011.
Richard C. Stockinger, Chairman,
President and Chief Executive Officer of Benihana Inc., said, "We
are very pleased with our performance thus far in the second
quarter and with the results for this period in particular. Despite
fewer operating hours due to Hurricane Irene, which impacted sales
for the period, we once again saw excellent growth driven by
increased traffic. Benihana Inc. has now produced twenty
consecutive four-week periods of comparable restaurant sales
growth. A credit to our talented team, this achievement reflects
the continued strength of our operational and promotional efforts
and the power of our iconic brand."
About Benihana
Headquartered in Miami,
Benihana Inc. (NASDAQ GS: BNHN, BNHNA) is the nation's leading
operator of Japanese theme and sushi restaurants with 96
restaurants nationwide, including 63 Benihana restaurants, eight
Haru sushi restaurants and 25 RA Sushi restaurants. In addition, 18
franchised Benihana restaurants are operating in the United States, Latin America and the Caribbean. To learn more about Benihana Inc.
and its three restaurant concepts, please view the corporate video
at www.benihana.com/about/video.
Safe Harbor Statement
Except for the historical matters contained herein, statements
in this press release are forward-looking and are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that forward-looking
statements involve risks and uncertainties that may affect the
business and prospects of Benihana, including, without limitation:
risks related to Benihana's business strategy, including the
Renewal Program and marketing programs; risks related to Benihana's
ability to operate successfully in the current challenging economic
environment; risks related to Benihana's efforts to strengthen its
Benihana Teppanyaki concept and build its RA Sushi and Haru brands;
and other risks and uncertainties that may cause results to differ
materially from those set forth in the forward-looking statements.
Past performance may not be indicative of future results. Although
Benihana believes the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
there can be no assurance that its expectations will be realized.
In addition to the risks and uncertainties set forth above,
investors should consider the risks and uncertainties discussed in
Benihana's filings with the Securities and Exchange Commission,
including, without limitation, the risks and uncertainties
discussed under the heading "Risk Factors" in such filings.
Benihana does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
Contact
Jeremy Fielding or James David
Kekst and Company
(212) 521-4800
SOURCE Benihana Inc.