The ONE Group Hospitality, Inc. Provides Business Update
The ONE Group Hospitality, Inc. (Nasdaq: STKS) reports a significant uptick in quarter-to-date comparable sales, increasing 35.2% compared to 2019. STK saw a remarkable 49.2% rise, while Kona Grill reported a 22.0% increase. As of May 31, 2021, indoor dining capacity averaged 82% across domestic locations, with all non-seasonal international venues open. The company will participate in major investor conferences in June, including the Piper Sandler Consumer Marketplace Conference and Jefferies Virtual Consumer Conference.
- 35.2% increase in quarter-to-date comparable sales vs. 2019
- 49.2% growth in sales at STK compared to 2019
- 22.0% increase in sales at Kona Grill compared to 2019
- Indoor dining capacity averaging 82% in May
- All non-seasonal international venues operating
- None.
The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) provides a business update in advance of the Company’s participation at three investor conferences.
As of May 31st, quarter-to-date comparable sales* in 2021 compared to 2019 increased
Participation at investor conferences include:
- On Thursday, June 3, 2021, the Company will hold investor meetings at the 41st Annual Virtual Piper Sandler Consumer Marketplace Conference;
- On Tuesday, June 8, 2021, the Company will hold investor meetings at Stifel’s Virtual Cross Sector Insight Conference; and
- On Tuesday, June 22, 2021, the Company will host investor meetings and present at the Jefferies Virtual Consumer Conference. The presentation will begin at 9:10 am ET and can be accessed from the Investor Relations tab of The ONE Group’s website at www.togrp.com under “News / Events”.
*Comparable sales represent total U.S. food and beverage sales at owned and managed units opened for at least a full 18-month period. This measure includes total revenue from our owned and managed locations. Two-year comparable sales relates to the comparison of comparable sales for the period of 4/1/2021 through 5/31/2021 to the period of 4/1/2019 through 5/31/2019. The Company monitors sales growth at its established restaurant base in addition to growth that results from restaurant acquisitions; the Company has presented two-year comparable sales to illustrate how sales at its restaurant base before the COVID-19 pandemic compare to sales as COVID-19 restrictions have eased and the Company has begun to recover lost sales.
Additional Information
Second Quarter to Date through May 31, 2021 |
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STK |
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Kona Grill |
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Consolidated |
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About The ONE Group
The ONE Group Hospitality, Inc. (Nasdaq: STKS) is a global hospitality company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both in the U.S. and internationally. The ONE Group’s focus is to be the global leader in Vibe Dining, and its primary restaurant brands and operations are:
- STK, a modern twist on the American steakhouse concept with 21 restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere; and,
- Kona Grill, a polished casual, bar-centric grill concept with 24 restaurants in the U.S., featuring American favorites, award-winning sushi, and specialty cocktails in an upscale casual atmosphere.
- ONE Hospitality, The ONE Group’s food and beverage hospitality services business, develops, manages and operates premier restaurants and turnkey food and beverage services within high-end hotels and casinos currently operating 12 venues in the U.S. and Europe.
Additional information about The ONE Group can be found at www.togrp.com.
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