Benihana Comparable Sales Increase of 4.5% for the Quarter
Benihana Inc. (NASDAQ: BNHN) today reported total restaurant sales and comparable restaurant sales for the first fiscal quarter of fiscal year 2013. The announcement marks the Company's tenth consecutive quarter, and thirty-first consecutive period, of comparable restaurant sales growth.
The Company also announced that its Benihana Teppanyaki brand ranked number one in the highly-respected Knapp-Track comparable sales survey for the calendar months of May and June 2012, building on the Company's impressive number one Knapp-Track ranking for all of calendar year 2011.
For the first fiscal quarter ended July 22, 2012, total restaurant sales increased year over year by 3.8% to $109.7 million from $105.7 million, and Company-wide comparable restaurant sales increased by 4.5%. As a result of a 53rd week of operating results included in the 2012 fiscal year, fiscal year 2013 comparable sales results are reported on a one-week adjusted basis. By concept, comparable restaurant sales increased 6.4% at Benihana Teppanyaki, 0.7% at RA Sushi and 0.9% at Haru. These results were driven by dine-in traffic growth of 3.6% at Benihana Teppanyaki.
Richard C. Stockinger, Chairman, President and Chief Executive Officer of Benihana Inc., said, "We are extremely pleased with yet another quarter of excellent sales growth driven primarily by increased traffic at our Benihana Teppanyaki brand. Benihana Inc. has now produced ten consecutive quarters of comparable restaurant sales growth in a very difficult consumer and economic environment.
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