Welcome to our dedicated page for Kura Sushi USA news (Ticker: KRUS), a resource for investors and traders seeking the latest updates and insights on Kura Sushi USA stock.
Kura Sushi USA, Inc. (symbol: KRUS) operates technology-enabled Japanese restaurants in the United States, offering a unique dining experience through a revolving sushi service model. Headquartered in Irvine, California, the company was founded in 2008 and became a subsidiary of Kura Sushi, Inc. It operates 28 restaurants across six states, providing a variety of Japanese dishes such as Dashi Olive Salmon, Tomago, Sweet Shrimp, Tuna, and Garlic Tuna Steak.
Incorporating innovative technology, Kura Sushi USA features revolving and express conveyor belts, on-demand ordering screens, plate slots, and the Bikkura-Pon rewards machine to enhance the dining experience. The company's core business revolves around delivering fresh and high-quality sushi, with revenue primarily derived from the United States.
Formerly known as Kula Sushi USA, Inc., the company rebranded to Kura Sushi USA, Inc. in October 2017. In its recent fiscal third-quarter financial results for 2023, Kura Sushi announced a remarkable year-over-year revenue growth of approximately 30%, attributed to aggressive unit growth and strong comparable sales trends. The company has also shown significant improvement in G&A leveraging, achieving an increase of 130 basis points over the previous year.
President and CEO Hajime Uba expressed pride in the company's progress, highlighting its expansion and strides toward greater profitability. Kura Sushi USA continues to mature as it broadens its footprint across the country.
For the latest updates and investor relations, please contact Jeff Priester or Steven Boediarto at investor@kurausa.com.
Latest News:
- IRVINE, Calif., July 06, 2023 - Kura Sushi USA, Inc. announced financial results for the fiscal third quarter ended May 31, 2023, showing a 30% year-over-year revenue growth.
Kura Sushi USA (NASDAQ: KRUS), a tech-enabled Japanese restaurant concept, has announced its participation in two upcoming investor conferences in September 2024. The company will host a fireside chat at the Piper Sandler Growth Frontiers Conference in Nashville, TN on September 11, starting at 9:00 a.m. CT. This discussion will be webcast live on Kura Sushi's corporate website.
Additionally, Kura Sushi will meet with institutional investors at the Benchmark 2nd Annual Consumer One-on-One Conference in New York, NY on September 12. These events provide opportunities for the company to engage with investors and showcase its business model and growth strategies.
Kura Sushi USA (NASDAQ: KRUS) has appointed Treasa Bowers as an independent member of its Board of Directors, effective July 9, 2024. Bowers, who boasts three decades of experience at 7-Eleven, will also join the Audit and Compensation Committees. Kura Sushi's CEO Hajime Uba emphasized Bowers' extensive experience as a key asset for the company's growth. Bowers currently serves as the Executive VP and Chief HR Officer at 7-Eleven, where she manages talent strategy, including acquisition, management, training, development, and employee relations. She also serves on various other boards, contributing to diversity and inclusion initiatives.
Kura Sushi USA reported its fiscal third-quarter 2024 financial results, revealing total sales of $63.1 million, up from $49.2 million in the same period last year. Comparable restaurant sales saw a slight increase of 0.6%. However, the company faced an operating loss of $1.2 million compared to a $1.3 million operating income in Q3 2023. Net loss stood at $0.6 million, or $(0.05) per diluted share, down from a net income of $1.7 million, or $0.16 per diluted share, last year. Adjusted net income was $4,000, or $0.00 per share. The restaurant-level operating profit was $12.6 million, 20.0% of sales, while adjusted EBITDA was $4.5 million. Kura Sushi opened four new restaurants during the quarter and projects total sales of $235-237 million for fiscal 2024.
Kura Sushi USA announced its preliminary unaudited financial results for the fiscal third quarter of 2024. The company reported expected total sales of approximately $63.1 million and a comparable restaurant sales increase of 0.6% year-over-year. However, the financial results did not meet expectations due to unanticipated softness in the California market. Despite these challenges, the company maintained a restaurant-level operating profit margin of about 20%. The company opened four new restaurants during the quarter in Orlando, Atlanta, Scarsdale, and Roseville. For the full fiscal year 2024, Kura Sushi projects total sales between $235 million and $237 million. The final results will be confirmed after completing the quarter-end closing procedures.
Kura Sushi USA, a technology-driven Japanese restaurant, will participate in William Blair’s 44th Annual Growth Stock Conference in Chicago on June 5, 2024.
The company will host a fireside chat starting at 1:20 p.m. CT, and the presentation will be available on their corporate website under the investor relations section.
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