Kura Sushi Q1 2020 Earnings Report
Key Takeaways
Kura Sushi USA, Inc. reported a 30% increase in total sales, reaching $17.4 million, and a 7.9% increase in comparable restaurant sales growth for the fiscal first quarter ended November 30, 2019. The company's operating loss was $1.4 million, and net loss was $1.2 million, or ($0.15) per diluted share.
Total sales increased 30% to $17.4 million compared to the first quarter of 2019.
Comparable restaurant sales growth increased 7.9%.
Operating loss was $1.4 million, compared to a loss of $0.4 million in the first quarter of 2019.
Net loss was $1.2 million, or ($0.15) per diluted share, compared to net loss of $0.4 million, or ($0.08) per diluted share in the first quarter of 2019.
Kura Sushi
Kura Sushi
Forward Guidance
The Company reiterates the following annual assumptions for the full fiscal year of 2020: Total sales between $84 million and $87 million; Comparable restaurant sales growth between 2% and 4%; Restaurant-level contribution margin between 20.5% and 21.5%; Adjusted EBITDA margin between 9% and 10%; and 6 new restaurants.
Positive Outlook
- Total sales between $84 million and $87 million
- Comparable restaurant sales growth between 2% and 4%
- Restaurant-level contribution margin between 20.5% and 21.5%
- Adjusted EBITDA margin between 9% and 10%
- 6 new restaurants