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Kura Sushi USA, Inc. reports developments for a technology-enabled Japanese restaurant concept built around revolving sushi service and Japanese cuisine. News commonly covers fiscal results, comparable restaurant sales, restaurant-level operating profit, food and beverage costs, general and administrative expenses, and new restaurant openings across its U.S. footprint.
Company updates also address unit expansion, investor conference participation, board composition, and finance leadership changes for the Nasdaq-listed restaurant operator, which was established as a U.S. subsidiary of Japan-based Kura Sushi, Inc.
Kura Sushi USA will host a conference call on January 11, 2021, at 5:00 p.m. ET, to discuss its fiscal first quarter 2021 financial results. The results will be made public after market close on the same day. The call will be led by Hajime Uba, CEO, and Steven Benrubi, CFO. Additionally, Kura Sushi will participate in a virtual fireside chat at the 23rd Annual ICR Conference on January 12, 2021, starting at 3:30 p.m. ET. More information can be found on the company’s investor relations website.
Kura Sushi USA, Inc. (NASDAQ: KRUS) has appointed Steven H. Benrubi as its new Chief Financial Officer, effective December 1, 2020, succeeding Koji Shinohara. Benrubi brings over 25 years of experience in the restaurant and retail sectors, with a successful track record in financial leadership. He previously served as CFO for Drybar Holdings and has held significant roles in companies including The Wet Seal and CKE Restaurants. The Company thanks Shinohara for his contributions, notably during its IPO process in 2019.
Kura Sushi USA reported fiscal Q4 and full year 2020 results, reflecting significant impacts from COVID-19. For Q4, total sales were $5.5 million, down $13.2 million year-over-year, with a net loss of $6.8 million ($0.82 per share). Full-year sales totaled $45.2 million, a decline from $64.2 million in 2019, resulting in a net loss of $17.4 million ($2.08 per share). The company opened three new locations post-fiscal year, enhancing its growth prospects as it navigates ongoing pandemic challenges.
Kura Sushi USA, Inc. (NASDAQ: KRUS), a technology-driven Japanese restaurant chain, will host a conference call on November 16, 2020, at 5:00 p.m. ET to discuss its fiscal fourth quarter and full-year 2020 financial results. The financial results will be publicly released that same day after market close. The call will feature President and CEO Hajime Uba and CFO Koji Shinohara, with access available via telephone or webcast. Kura Sushi operates 26 locations across six states, focusing on authentic Japanese cuisine and a unique revolving sushi service model.
Kura Sushi USA reported a fiscal third quarter net loss of $9.2 million ($1.10 per diluted share), a significant decline from a net income of $0.7 million in the same period last year. Total sales dropped to $2.8 million, down $14.1 million year-over-year due to COVID-19 related closures, with most of its 25 restaurants largely closed. The company retains $14 million in cash, no debt, and recognized a $1.6 million employee retention credit. Despite operational challenges, CEO Hajime Uba expressed confidence in the company's long-term growth prospects.
Kura Sushi USA, Inc. (NASDAQ: KRUS) will host a conference call on July 14, 2020, at 4:30 p.m. ET to discuss its third quarter 2020 financial results. A press release will be issued that same day after market close, providing key financial metrics. The call will be led by President Hajime “Jimmy” Uba and CFO Koji Shinohara. Interested participants can join via telephone or listen to the archived webcast on the company’s website. Kura Sushi operates 25 locations across five states, offering a unique dining experience featuring authentic Japanese cuisine.