Benihana Inc. Reports Total Restaurant Sales and Comparable Restaurant Sales for the Fourth Fiscal Quarter & Full Year 2009

* Reuters is not responsible for the content in this press release.

Tue Apr 7, 2009 7:00am EDT

Company Updates Development Activity
MIAMI--(Business Wire)--
Benihana Inc. (NASDAQ: BNHNA; BNHN), operator of the nation`s largest chain of
Japanese theme and sushi restaurants, today reported total restaurant sales and
comparable restaurant sales for the twelve-week fourth fiscal quarter and
fifty-two week fiscal year ended March 29, 2009. The Company also updated its
recent development activity. 

Fourth Fiscal Quarter 2009 Restaurant Sales

Total restaurant sales increased 5.4% to $73.6 million in the fourth fiscal
quarter 2009 from $69.8 million in the fourth fiscal quarter 2008. For the
fourth fiscal quarter 2009, Company-wide comparable restaurant sales were
(10.4%), including (12.2%) at Benihana teppanyaki, (1.2%) at RA Sushi, and
(12.6%) at Haru. 

During the period, Benihana teppanyaki represented approximately 68.4% of
consolidated restaurant sales, while RA Sushi and Haru accounted for 21.4% and
10.2% of consolidated restaurant sales, respectively. There were a total of
1,131 store-operating weeks in the fourth fiscal quarter of 2009 compared to 971
store-operating weeks in the fourth fiscal quarter of 2008. 

Fiscal Year 2009 Restaurant Sales

Total restaurant sales for the fifty-two week fiscal year ended March 29, 2009
increased 2.9% to $303.9 million from $295.2 million in the fifty-two week
fiscal year ended March 30, 2008. For fiscal year 2009, Company-wide comparable
restaurant sales decreased (8.0%), including (7.7%) at Benihana teppanyaki,
(7.5%) at RA Sushi, and (10.6%) at Haru. 

For fiscal year 2009, Benihana teppanyaki represented approximately 68.1% of
consolidated restaurant sales, while RA Sushi and Haru accounted for 20.2% and
11.7% of consolidated restaurant sales, respectively. There were a total of
4,603 store-operating weeks in fiscal year 2009 compared to 4,115
store-operating weeks in fiscal year 2008. 

"Our fiscal year 2009 restaurant sales were in line with prior expectations, and
we are encouraged that our quarterly Company-wide comparable sales were slightly
higher on a sequential basis, with notable improvement at RA Sushi. While it
would be premature to suggest that a full economic recovery is imminent, we
believe that overall guest counts are beginning to stabilize, and are more
hopeful that trends could improve from these levels as we move into fiscal year
2010. As always, we place the highest importance on differentiating our
restaurant concepts, highlighting the distinct attributes of our dining
experience, and providing value to our cost-conscious guests. Our successful
execution of these key attributes will help ensure that we maintain their
loyalty in these trying times," said Richard C. Stockinger, Chief Executive
Officer. 

Development Activity

As previously announced, during the fourth fiscal quarter of 2009, the Company
continued its development of new restaurants, adding two new Benihana teppanyaki
locations to its portfolio. The Company opened in Coral Springs, Florida, near
the Coral Square Mall, and in Columbus, Ohio, at Polaris Fashion Place. In
addition, the Benihana teppanyaki restaurant located in Memphis, Tennessee,
which was previously destroyed by a fire, was re-opened. Additionally, a second
franchise location was opened in Chile, during the fiscal fourth quarter. 

During the first quarter of fiscal 2010, the Company is planning to open three
RA Sushi restaurants in Houston, Texas; Leawood, Kansas; and Atlanta, Georgia,
along with one Benihana teppanyaki restaurant in Orlando, Florida. 

About Benihana

Benihana Inc. (Nasdaq: BNHNA - News) (Nasdaq: BNHN - News) operates 95
restaurants nationwide, including 64 Benihana teppanyaki restaurants, nine Haru
sushi restaurants, and 22 RA Sushi Bar restaurants. Under development at present
are nine restaurants -- four Benihana teppanyaki restaurants and five RA Sushi
restaurants. In addition, 21 franchised Benihana teppanyaki restaurants are
operating in the U.S., Latin America and the Caribbean. 

To learn more about the Company and its three Japanese theme and sushi
restaurant concepts, please view the corporate video at
www.benihana.com/about/video. 





ICR
Raphael Gross or Tom Ryan, 203-682-8200 

Copyright Business Wire 2009

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.