Benihana Reports Greater Than Anticipated Fourth Quarter Increase in Comparable Sales.Business Editors MIAMI--(BUSINESS WIRE)--April 15, 2004 Benihana Benihana Can refer to:
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 and BNHN), operator of one of the nation's largest chains of Asian restaurants, today reported an increase of 2.6% in comparable restaurant sales for the fourth fiscal quarter ended March 28, 2004. The Company had previously indicated that it anticipated comparable sales of flat to up 0.5% for the quarter. Total fiscal 2004 fourth quarter sales were $50.3 million, a 9.3% increase compared to the corresponding year ago period. Benihana said that comparable store sales for the fourth quarter increased at each of its three primary restaurant concepts. Benihana teppanyaki restaurant sales increased 1.2%. Haru's five New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. sushi restaurants registered a 10.0% increase, and RA Sushi, the high energy restaurant chain, was up 10.7%. Total restaurant sales for the year ended March 28, 2004 were $201.3 million, an increase of 7.1% from last year. The Company attributed the gain in comparable restaurant sales to improved customer counts, including the Texas market, which previously had been adversely impacted by local economic conditions. The Company also affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its previous guidance of $0.31 to $0.32 for the quarter. About Benihana Benihana, now in its 40th year and one of the nation's largest chains of Asian restaurants, currently operates 69 restaurants nationwide, including 56 Benihana teppanyaki restaurants, five Haru sushi restaurants, seven 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 and one Doraku restaurant. In addition, a total of 23 franchised Benihana teppanyaki restaurants are now open or under development in the U.S. and 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. . Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, together with other statements that are not historical facts, are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined under Federal Securities Laws. "Forward-looking statements" are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes in customers' tastes and preferences, acceptance of the Company's concepts in new locations, obtaining qualified personnel, industry cyclicality, fluctuations in customer demand, the seasonal nature of the business, fluctuations of commodities costs, the ability to complete construction of new units in a timely manner, obtaining governmental permits on a reasonably timely basis, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this press release. |
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