Kura Sushi USA, Inc. - KRUS STOCK NEWS

Kura Sushi USA has priced its public offering of 695,938 shares of Class A common stock at $85.00 per share, expecting to raise approximately $56.2 million in net proceeds. The company granted underwriters a 30-day option to purchase up to 104,390 additional shares, potentially increasing net proceeds to $64.6 million if fully exercised. The offering is expected to close on November 13, 2024. The funds will be used for general corporate purposes, including capital expenditures, working capital, and other business purposes. William Blair & Company, Barclays Capital, and TD Securities are acting as joint book-running managers.

Kura Sushi USA, a technology-enabled Japanese restaurant concept, has announced the launch of an underwritten public offering of its Class A common stock. The company plans to grant underwriters a 30-day option to purchase additional shares to cover over-allotments. William Blair & Company, Barclays Capital, and TD Securities are acting as joint book-running managers. The net proceeds will be used for general corporate purposes, including capital expenditures, working capital, and other business purposes. The offering is being made through an effective shelf registration statement filed with the SEC.

Kura Sushi USA reported mixed fiscal Q4 2024 results with total sales of $66.0 million, up from $54.9 million in Q4 2023. However, comparable restaurant sales decreased 3.1%. The company reported a net loss of $5.2 million, or $(0.46) per share, compared to net income of $2.9 million last year. Restaurant-level operating profit was $13.8 million (20.9% of sales). For fiscal year 2024, total sales reached $237.9 million with a 0.7% increase in comparable sales. The company opened one new restaurant in Q4 and provided FY2025 guidance of $275-279 million in sales with plans to open 14 new restaurants.

Kura Sushi USA, Inc. (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, has announced it will host a conference call to discuss its fiscal fourth quarter and fiscal year 2024 financial results on Wednesday, November 6, 2024 at 5:00 p.m. ET. The company will issue a press release with the financial results after the market closes on the same day.

The conference call and webcast will be hosted by Hajime "Jimmy" Uba, President and CEO, Jeff Uttz, CFO, and Benjamin Porten, SVP Investor Relations & System Development. Interested parties can listen to the call by dialing 201-689-8471. A telephone replay will be available at 412-317-6671 with passcode 13748567. The webcast will be accessible at www.kurasushi.com under the Investor Relations section.

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.