From StockStory Media:

Sushi restaurant chain Kura Sushi posted Q1 FY2024 results in line with analysts’ expectations, with a 30.9% revenue increase to $51.48 million. The company’s full-year revenue outlook is close to analysts’ estimates at $241.5 million. Despite a GAAP loss of $0.18 per share, Kura Sushi’s gross margin surpassed expectations, climbing to 31%. While the company missed operating profit and EPS expectations, its same-store sales were up 3.8% year on year. In response, the stock dropped 4.6% to $71 per share.

Kura Sushi is a chain of sushi restaurants serving traditional Japanese fare known for its conveyor belt that transports dishes to diners, currently growing to 56 locations. Founded a decade ago, the company’s stock has skyrocketed over 2,000% since its IPO. With a growth rate of 30.8% over the last four years and a 30.2% increase in restaurant locations over the last 12 months, Kura Sushi remains on a path of rapid expansion and success.



Read more: Kura Sushi (NASDAQ:KRUS) Reports Q1 In Line With Expectations