Benihana Inc. Reports Total Restaurant Sales and Comparable Restaurant Sales for the Fourth Fiscal Quarter & Full Year 2009.Company Updates Development Activity 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 total restaurant sales and comparable restaurant sales for the twelve-week fourth fiscal quarter and fifty-two week fiscal year ended March 29, 2009. The Company also updated its recent development activity. Fourth Fiscal Quarter 2009 Restaurant Sales Total restaurant sales increased 5.4% to $73.6 million in the fourth fiscal quarter 2009 from $69.8 million in the fourth fiscal quarter 2008. For the fourth fiscal quarter 2009, Company-wide comparable restaurant sales were (10.4%), including (12.2%) at Benihana teppanyaki, (1.2%) at RA Sushi, and (12.6%) at Haru. During the period, Benihana teppanyaki represented approximately 68.4% of consolidated restaurant sales, while RA Sushi and Haru accounted for 21.4% and 10.2% of consolidated restaurant sales, respectively. There were a total of 1,131 store-operating weeks in the fourth fiscal quarter of 2009 compared to 971 store-operating weeks in the fourth fiscal quarter of 2008. Fiscal Year 2009 Restaurant Sales Total restaurant sales for the fifty-two week fiscal year ended March 29, 2009 increased 2.9% to $303.9 million from $295.2 million in the fifty-two week fiscal year ended March 30, 2008. For fiscal year 2009, Company-wide comparable restaurant sales decreased (8.0%), including (7.7%) at Benihana teppanyaki, (7.5%) at RA Sushi, and (10.6%) at Haru. For fiscal year 2009, Benihana teppanyaki represented approximately 68.1% of consolidated restaurant sales, while RA Sushi and Haru accounted for 20.2% and 11.7% of consolidated restaurant sales, respectively. There were a total of 4,603 store-operating weeks in fiscal year 2009 compared to 4,115 store-operating weeks in fiscal year 2008. "Our fiscal year 2009 restaurant sales were in line with prior expectations, and we are encouraged that our quarterly Company-wide comparable sales were slightly higher on a sequential basis, with notable improvement at RA Sushi. While it would be premature to suggest that a full economic recovery is imminent, we believe that overall guest counts are beginning to stabilize, and are more hopeful that trends could improve from these levels as we move into fiscal year 2010. As always, we place the highest importance on differentiating our restaurant concepts, highlighting the distinct attributes of our dining experience, and providing value to our cost-conscious guests. Our successful execution of these key attributes will help ensure that we maintain their loyalty in these trying times," said Richard C. Stockinger, Chief Executive Officer. Development Activity As previously announced, during the fourth fiscal quarter of 2009, the Company continued its development of new restaurants, adding two new Benihana teppanyaki locations to its portfolio. The Company opened in Coral Springs, Florida Coral Springs, officially chartered July 10, 1963, is a city in Broward County, Florida, United States, approximately 20 miles (32 km) northwest of Fort Lauderdale, Florida. According to the U.S. , near the Coral Square Mall Coral Square Mall is a shopping mall owned by Simon Property Group located in Coral Springs, Florida. It opened in October 1984 and is 945,000 square feet. The mall has over 120 stores and restaurants. , and in Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. , at Polaris Fashion Place. In addition, the Benihana teppanyaki restaurant located in Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. , which was previously destroyed by a fire, was re-opened. Additionally, a second franchise location was opened in Chile, during the fiscal fourth quarter. During the first quarter of fiscal 2010, the Company is planning to open three RA Sushi restaurants in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the ; Leawood, Kansas Leawood is a city in Johnson County, Kansas, United States and is part of the Kansas City Metropolitan Area. The population was 27,656 at the 2000 census. Geography Leawood is located at (38.920802, -94. ; and Atlanta, Georgia, along with one Benihana teppanyaki restaurant in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . About Benihana Benihana Inc. (Nasdaq: BNHNA - News) (Nasdaq: BNHN - News) operates 95 restaurants nationwide, including 64 Benihana teppanyaki restaurants, nine Haru sushi restaurants, and 22 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 nine restaurants -- four Benihana teppanyaki restaurants and five RA Sushi restaurants. In addition, 21 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/about/video. |
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