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, Inc. (NASDAQ: KRUS) has appointed Jeff Uttz as its new Chief Financial Officer, effective October 3, 2022. Uttz brings extensive experience from his previous roles, including CFO at Shake Shack, where he played a key role in its IPO and expansion. His leadership is expected to guide Kura Sushi through its growth opportunities. The company, with 40 locations across 12 states, focuses on authentic Japanese cuisine and a unique revolving sushi service model.
Kura Sushi USA (NASDAQ: KRUS) reported a significant increase in total sales for Q3 2022, reaching $38.0 million, up from $18.5 million in Q3 2021. Comparable restaurant sales surged by 65%.
Despite the sales boost, operating income fell to $0.5 million, down from $0.9 million a year ago, with net income also decreasing to $0.5 million or $0.05 per diluted share. Adjusted EBITDA rose to $3.2 million, compared to a loss of $2.6 million in the prior year. The company anticipates total sales for FY 2022 to be between $137 million and $142 million.
IRVINE, Calif., June 28, 2022 - Kura Sushi USA, Inc. (NASDAQ: KRUS) will host a conference call on July 7, 2022, at 5:00 p.m. ET to discuss its fiscal third quarter 2022 financial results, to be released after market close. President and CEO Hajime “Jimmy” Uba will lead the call, which can be accessed by dialing 201-689-8471 or via a webcast on the company's website. Kura Sushi, established in 2008, operates 37 locations across 11 states and Washington DC, offering an innovative dining experience centered on authentic Japanese cuisine.
Kura Sushi USA, Inc. (NASDAQ: KRUS) has announced the resignation of Chief Financial Officer Steven H. Benrubi, effective August 1, 2022, or upon naming a successor. The company has initiated a search for Benrubi's replacement. CEO Hajime Uba praised Benrubi for his leadership through challenging times, including the COVID-19 pandemic and inflation. Benrubi expressed pride in the company’s progress and confidence in its management team as he prepares for retirement, highlighting the restaurant's recent sales momentum.
Kura Sushi USA reported fiscal Q2 2022 sales of $31.3 million, a significant increase from $9.1 million in Q2 2021. Comparable restaurant sales surged 183% year-over-year and 11.3% compared to Q2 2020. Operating loss decreased to $1.9 million from $3.8 million in the prior year. Net loss improved to $1.9 million or ($0.19) per diluted share. The company opened three new restaurants during the quarter, reaffirming guidance for $130-$140 million in total sales for FY 2022, with plans for 8 to 10 new locations.
Kura Sushi USA, Inc. (NASDAQ: KRUS) has scheduled a conference call for April 7, 2022, at 5:00 p.m. ET to discuss its fiscal second quarter 2022 financial results. The call will be hosted by President and CEO Hajime “Jimmy” Uba and CFO Steven Benrubi, with a press release detailing financial results to be issued post-market closure on the same day. Interested parties can join the call by dialing 201-689-8471. The event will also be accessible via a webcast on their investor relations website, which will be archived afterward.
Kura Sushi USA (NASDAQ: KRUS) reported fiscal Q1 2022 results showing a significant sales increase to $29.8 million from $9.4 million in Q1 2021. Comparable restaurant sales surged by 154% year-over-year and 19.9% compared to Q1 2020. Operating loss improved to $1.3 million from $6.3 million; net loss was $1.3 million or ($0.13) per share. Adjusted EBITDA reached $0.8 million, and the company plans to open 8 to 10 new restaurants in FY 2022, maintaining guidance for total sales between $130 million and $140 million.
Kura Sushi USA, Inc. (NASDAQ: KRUS) will host a conference call on January 6, 2022, at 5:00 PM ET to discuss its fiscal first quarter 2022 financial results. A press release detailing these results will be issued the same day after market close. The call will be led by President and CEO Hajime Uba and CFO Steven Benrubi. Additionally, the company will participate in a fireside chat at the 24th Annual ICR Conference on January 11, 2022, at 1:00 PM ET. Interested parties can listen via telephone or watch the webcast on the company’s website.
Kura Sushi USA has appointed Carin L. Stutz as an independent board member, effective December 1, 2021, while Hiroyuki Okamoto steps down. Stutz brings over 30 years of restaurant industry experience, previously serving as CEO of Native Foods and COO at Red Robin. Kura's CEO, Hajime Uba, emphasizes Stutz's operational expertise and industry vision as key to the company's growth strategy. The restaurant chain currently operates 33 locations across the U.S., delivering a unique dining experience rooted in authentic Japanese cuisine.
Kura Sushi USA reported a strong recovery in Q4 2021, achieving sales of $27.9 million, a significant increase from $5.5 million in Q4 2020. The operating loss narrowed to $0.8 million from $6.8 million year-over-year. Net loss was $0.8 million, or ($0.09) per diluted share, compared to ($0.82) in Q4 2020. Comparable restaurant sales rose 4.9% versus 2019. The company plans to open 8-10 new restaurants in fiscal 2022, aiming for total sales between $130 million and $140 million.
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