Welcome to our dedicated page for The ONE Group Hospitality news (Ticker: $STKS), a resource for investors and traders seeking the latest updates and insights on The ONE Group Hospitality stock.
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The ONE Group Hospitality, Inc. reported a 3.0% revenue growth in Q1 2024, completed the acquisition of Safflower Holdings Corp., owner of Benihana Inc., and updated 2024 targets post-acquisition. Despite a 7.9% decrease in comparable sales, total GAAP revenues reached $85.0 million, with a net loss of $2.1 million. Adjusted EBITDA decreased 3.6% to $10.5 million. The company plans to open new venues, initiated a $5 million share repurchase program, and aims for $950 million in annual run-rate revenues by 2024-end.
The ONE Group Hospitality, Inc. (STKS) has rescheduled its 2024 Annual Meeting of Stockholders from May 22 to May 21, 2024. The meeting will be held at STK Denver, Colorado. The change aims to better accommodate stakeholders.
The ONE Group Hospitality, Inc. has completed the acquisition of Safflower Holdings Corp., the owner of Benihana, for $365 million in cash. The acquisition aims to provide growth opportunities and diversify The ONE Group's portfolio of experiential VIBE restaurant concepts. The company looks forward to the new chapter with nearly 6,500 new Benihana teammates on board.
