Benihana Inc. Reports a 9.3% Increase in Third Fiscal Quarter 2007 Comparable Restaurant Sales.Total Restaurant Sales Grew 11.8% 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 a 9.3% increase in company-wide comparable restaurant sales for the twelve-week period ended December 31, 2006. Total restaurant sales increased 11.8% to $61.9 million from $55.3 million during the same quarter last year. During the quarter ended December 31, 2006, Benihana teppanyaki restaurants represented approximately 74.5% of consolidated restaurant sales while RA Sushi and Haru accounted for 13.9% and 11.6% of consolidated restaurant sales, respectively. Restaurant sales were negatively impacted by approximately $2.8 million, net during the third quarter of fiscal 2007 because of temporary closures related to the Company's renovation program. There were a total of 893 store-operating weeks during the current third fiscal quarter compared with 846 store-operating weeks during last year's third fiscal quarter. For the third quarter of fiscal 2007, comparable restaurant sales for the Benihana teppanyaki restaurants increased 8.1%. In addition, comparable restaurant sales rose 11.9% at RA Sushi and 14.5% at Haru, with eight and seven restaurants, respectively, in their comparable restaurant base. The Company considers restaurants in operation longer than twelve months to be a part of the comparable restaurant base. "Across all three restaurant concepts, our momentum continued through the third quarter, as we benefited from comparable sales growth that far outpaced our industry peers, as well as incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. revenue from our newest locations and renovated restaurants. During the quarter, we expanded our portfolio by opening a new Benihana restaurant in Coral Gables, Florida Often called "The Gables," Coral Gables is a city in Miami-Dade County, Florida, southwest of Miami, in the United States. The city is best known as the home of the University of Miami, and as an example of City Beautiful urban planning. and two RA Sushi restaurants in 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, , which are all performing to expectations. Our revitalization program now includes five fully renovated Benihana teppanyaki restaurants in operation, and we reiterate our confidence in the renovation strategy," said Joel A. Schwartz, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ." About Benihana Benihana Inc. (NASDAQ: BNHNA; BNHN) operates 79 restaurants nationwide, including 59 Benihana teppanyaki restaurants, seven Haru sushi restaurants, and thirteen 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 eight restaurants - three Benihana teppanyaki restaurants, one Haru restaurant, and four RA Sushi restaurants. In addition, 17 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. |
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