From GlobeNewswire:

Kura Sushi USA, Inc. announced its financial results for the fiscal first quarter ended November 30, 2023. The company reported a total sales of $51.5 million, a 3.8% increase in comparable restaurant sales, and an operating loss of $2.8 million. Fiscal year 2024 is off to a strong start with positive financial improvements and multiple new restaurant openings.

The review of the fiscal first quarter financial results shows that Kura Sushi’s total sales increased to $51.5 million, with 3.8% growth in comparable restaurant sales. Despite increased costs in various areas, the company managed to maintain a consistent percentage of labor and related costs, as well as general and administrative expenses. Although an operating loss of $2.8 million was reported, the company’s net loss improved to $2.0 million.

In the fiscal first quarter of 2024, Kura Sushi opened four new restaurants, with plans to open 12 to 14 new restaurants during the full fiscal year. The company aims to maintain total sales between $239 million and $244 million for 2024, with a focus on growing its restaurant base and improving operational efficiency.

Kura Sushi will be hosting a fireside chat as part of the 26th Annual ICR Conference in Orlando, Florida on January 9, 2024. The company’s focus remains on leveraging its G&A against a growing restaurant base and delivering an outstanding dining experience to its guests. It aims to continue its rapid growth across the United States.



Read more: Kura Sushi USA Announces Fiscal First Quarter 2024