Benihana Reports a 6.5% Increase in Second Quarter Comparable Sales; All Concepts and All Regions Reported Comp Sales Increases.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 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 announced a 6.5% increase in comparable sales for the fiscal second quarter ended October 10, 2004. The Company said that each of its restaurant concepts contributed to the gains. The Benihana teppanyaki restaurants posted a 6.4% increase in comparable sales, reflecting both higher customer traffic and price increases instituted in July 2004 as a result of higher commodity costs. The sales increase was achieved despite the temporary effects of four hurricanes on the Company's seven company-owned restaurants in Florida. RA Sushi comparable sales for the quarter increased 13.1%. Comparable sales for Haru increased by 4.1%, despite a temporary slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. during the Republican National Convention held in 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. in the month of August. All geographic regions showed positive comparable sales results. Benihana said that it expects net income for the 12-week quarter, which also is the Company's seasonally slowest period, to range between $0.14 and $0.16 per share. That would compare with net income of $0.16 per share in the corresponding year-ago quarter, despite that fact that there were 12% more shares and share equivalents outstanding in the current quarter. The fiscal 2005 second quarter results reflect fees relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the previously disclosed litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. commenced by Rocky Aoki and larger than usual proxy expenses, which collectively amounted to approximately $0.04 per share. "I am pleased to report that business company-wide remains strong," said Joel A. Schwartz, 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. and President. "Comparable sales continued to improve throughout the quarter for all of our active concepts despite the barrage of hurricanes in Florida and the Republican National Convention in New York City where we have seven company-owned restaurants. The price increases instituted at the beginning of the quarter for the teppanyaki restaurants did not appear to have an impact on customer traffic flow. We are highly encouraged regarding the outlook for what is our Company's fortieth year in business." The Company is expected to release its earnings on November 16, 2004 followed by a conference call at 11:00AM. About Benihana Benihana, now in its 40th year and one of the nation's largest chains of Asian restaurants, currently operates 70 restaurants nationwide, including 56 Benihana teppanyaki restaurants, five Haru sushi restaurants, eight 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. Under development at present are six restaurants - two Benihana teppanyaki restaurants, two Haru units and two RA Sushi restaurants. 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 that 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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