Benihana Inc. Reports a 9.8% Increase in Second Quarter 2007 Comparable Restaurant Sales.Total Restaurant Sales Grew 7.9% 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 9.8% increase in company-wide comparable restaurant sales for the twelve-week period ended October 8, 2006. Total restaurant sales increased 7.9% to $58.6 million from $54.3 million during the same quarter last year. During the quarter ended October 8, 2006, Benihana teppanyaki restaurants represented approximately 74% of consolidated restaurant sales while RA Sushi and Haru accounted for 14% and 12% of consolidated restaurant sales, respectively. The year-ago period included approximately $0.5 million in revenue from the Sushi Doraku restaurant concept, which was sold in April 2006. Restaurant sales were negatively impacted by approximately $2.5 million, net during the second quarter of fiscal 2007 because of temporary closures under the Company's renovation program. There were a total of 840 store-operating weeks during the current second fiscal quarter compared with 855 store-operating weeks during last year's second fiscal quarter. For the second quarter of fiscal 2007, comparable restaurant sales for the Benihana teppanyaki restaurants increased 9.3%. In addition, comparable restaurant sales rose 12.8% at RA Sushi and 10.3% at Haru, with eight and seven restaurants, respectively in their comparable restaurant base. The Company considers restaurants in operation twelve months or longer to be a part of the comparable restaurant base. The strength of our namesake name·sake n. One that is named after another. [From the phrase for the name's sake.] namesake Noun Benihana brand, as well as our RA Sushi and Haru concepts, is clearly evident in these sales results, which are once again far above industry norms. We credit the unique experience we provide our guests, coupled with attractive price points at each of our three Japanese and sushi-themed restaurant concepts, as the primary factors in maintaining this top-line momentum. With regards to our revitalization re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. program, we currently have four renovated Benihana teppanyaki restaurants in operation, and they continue to outpace out·pace tr.v. out·paced, out·pac·ing, out·pac·es To surpass or outdo (another), as in speed, growth, or performance. outpace Verb [-pacing, our expectations, adding further to 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 76 restaurants nationwide, including 58 Benihana teppanyaki restaurants, seven Haru sushi restaurants, and eleven 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 ten restaurants - three Benihana teppanyaki restaurants, one Haru restaurant, and six 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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