Benihana Inc. Reports Total Restaurant Sales Growth of 13.7% in Second Fiscal Quarter 2008.Comparable Restaurant Sales Increased 2.8% MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. -- Benihana Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BNHNA; BNHN), operator of the nation's largest chain of Japanese theme and sushi restaurants, today reported that total restaurant sales for the second fiscal quarter of 2008 increased 13.7% to $66.6 million from $58.6 million in the same quarter last year. Benihana teppanyaki represented approximately 74% of consolidated restaurant sales, while RA Sushi and Haru accounted for 15% and 11% of consolidated restaurant sales, respectively. There were a total of 940 store-operating weeks in the second fiscal quarter of 2008 compared to 840 store-operating weeks in the second fiscal quarter of 2007. For the twelve-week period ended October 14, 2007, Company-wide comparable restaurant sales increased 2.8%, including 2.4% at Benihana teppanyaki, 3.0% at RA Sushi, and 4.8% at Haru. "Our comparable sales were a consequence of continued spending pressures on the consumer. Similar to many of our restaurant peers, our locations in Florida, and to a lesser extent Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , weighed down overall results, although we did experience strength in other parts of the country, particularly Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern and Texas," said Joel A. Schwartz, Chairman and Chief Executive Officer. Mr. Schwartz continued, "Notably, our weekly sales trends were least favorable in late August and early September, but have since rebounded. We recognize that we are not immune from the trends affecting our industry, however, we believe that the distinct nature of our theatrical experience and the popularity of Asian cuisine Asian cuisine is a term sometimes used in the West as an umbrella term for the various cuisines of East Asia and Southeast Asia and for fusion dishes based on combining them. It does not usually include Polynesian, Central Asia or Middle Eastern cuisine. in general has somewhat insulated us." About Benihana Benihana Inc. (NASDAQ: BNHNA; BNHN) operates 81 restaurants nationwide, including 60 Benihana teppanyaki restaurants, seven Haru sushi restaurants, and fourteen RA Sushi Bar Noun 1. sushi bar - a bar where sushi is served bar - a counter where you can obtain food or drink; "he bought a hot dog and a coke at the bar" restaurants. Under development at present are sixteen restaurants - six Benihana teppanyaki restaurants, two Haru restaurants, and eight RA Sushi restaurants. In addition, 19 franchised Benihana teppanyaki restaurants are operating in the U.S., Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and the Caribbean. To learn more about the Company and its three Japanese theme and sushi restaurant concepts, please view the corporate video at www.benihana.com/company_profile.asp |
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