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 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.
Kura Sushi USA, Inc. (NASDAQ: KRUS) will host a conference call on November 11, 2021, at 5:00 p.m. ET to discuss its fiscal fourth quarter 2021 financial results. A press release detailing these results will be available after market close on the same day. The call will be led by President and CEO Hajime Uba and CFO Steven Benrubi. Interested parties can listen via telephone or access the webcast on the company's Investor Relations page. Kura Sushi operates 32 locations across nine states, focusing on authentic Japanese cuisine and a unique revolving sushi service.
Kura Sushi USA, Inc. (NASDAQ: KRUS) closed its public offering, selling 1,265,000 shares of Class A common stock at $45.00 each, raising approximately $54.1 million after discounts. The offering included an additional 165,000 shares purchased by underwriters. Proceeds will be used for general corporate purposes, including capital expenditures, debt repayment under its revolving credit agreement, and working capital. The offering was managed by William Blair & Company, L.L.C. and Stephens Inc., with additional co-managers involved.
Kura Sushi USA, Inc. (NASDAQ: KRUS) has priced its public offering of 1,100,000 shares of Class A common stock at $45.00 per share, aiming for net proceeds of approximately $47.1 million. An additional 165,000 shares may be purchased by underwriters. The funds will be used for general corporate purposes, including capital expenditures and debt repayment. The offering is expected to close on July 23, 2021. William Blair & Company is the lead manager of the offering. This follows the company’s strategic growth plan in the competitive Japanese dining sector.
Kura Sushi USA, Inc. (NASDAQ: KRUS) announced an underwritten public offering of shares of its Class A common stock, all offered by the Company. The offering's terms are subject to market conditions, with a 30-day option for underwriters to purchase additional shares. Proceeds will go towards general corporate purposes, including capital expenditures and debt repayment. William Blair & Company, L.L.C. and Stephens Inc. are managing the offering. This release does not constitute an offer to sell or a solicitation to buy securities.
Kura Sushi USA, Inc. (NASDAQ: KRUS) announced the appointment of Sean Allameh as Chief Operating Officer, effective July 26, 2021. Allameh brings over 25 years of experience in operations and brand growth, having previously served as COO of Luna Grill, where he expanded the brand from 16 to 49 locations. The company's president expressed confidence in Allameh's ability to enhance Kura Sushi's growth following the pandemic.
Kura Sushi operates 32 locations across nine states and Washington D.C., focusing on authentic Japanese cuisine and a unique revolving sushi dining experience.
Kura Sushi USA (NASDAQ: KRUS) reported a significant recovery in its fiscal third quarter 2021, with total sales reaching $18.5 million, a 456% increase year-over-year. The company achieved an operating income of $0.9 million, bouncing back from an operating loss of $8.0 million in Q3 2020. Net income was $0.8 million or $0.09 per diluted share, compared to a net loss of $9.2 million or ($1.10) per share last year. All 32 restaurants are operating at full capacity, following the easing of COVID-19 restrictions.
Kura Sushi USA, Inc. (NASDAQ: KRUS) announced a conference call to discuss its fiscal third quarter 2021 financial results on July 13, 2021, at 5:00 p.m. ET. A press release detailing the financial results will be released the same day after market close. The call will be led by President and CEO Hajime “Jimmy” Uba and CFO Steven Benrubi. Interested listeners can join via telephone or through a webcast available on the company’s website. Kura Sushi operates 32 locations across nine states and Washington DC, offering a unique revolving sushi dining experience.
Kura Sushi USA (NASDAQ: KRUS), a leading Japanese restaurant chain, will participate in the BMO Capital Markets 16th Annual Farm to Market Conference on May 20, 2021. The virtual fireside chat is set to begin at 2:40 pm ET. Interested investors can access the event via the company's corporate website in the investor relations section.
Established in 2008, Kura Sushi operates 31 locations across eight states and Washington DC, offering an engaging revolving sushi service model.
FAQ
What is the current stock price of Kura Sushi USA (KRUS)?
What is the market cap of Kura Sushi USA (KRUS)?
What type of cuisine does Kura Sushi USA, Inc. offer?
Where is Kura Sushi USA, Inc. headquartered?
How many restaurants does Kura Sushi USA, Inc. operate?
What are some featured dishes at Kura Sushi USA?
When was Kura Sushi USA, Inc. founded?
What innovative technologies does Kura Sushi USA incorporate in its restaurants?
Who is the CEO of Kura Sushi USA, Inc.?
What was the revenue growth reported for the fiscal third quarter of 2023?
How can investors get in touch with Kura Sushi USA, Inc.?
What is the stock symbol for Kura Sushi USA, Inc.?
