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Feb 28, 2021
Kura Sushi Q2 2021 Earnings Report
Kura Sushi's financial results were significantly impacted by increased COVID restrictions but saw a rebound in sales towards the end of the quarter.
Key Takeaways
Kura Sushi USA, Inc. reported a decrease in total sales to $9.1 million compared to $19.4 million in the second quarter of 2020. The company experienced an operating loss of $3.8 million and a net loss of $3.9 million, or ($0.46) per diluted share.
Total sales were $9.1 million, a decrease from $19.4 million in the second quarter of 2020.
Operating loss was $3.8 million, compared to an operating loss of $0.2 million in the second quarter of 2020.
Net loss was $3.9 million, or ($0.46) per diluted share, compared to a net loss of $0.1 million, or ($0.02) per diluted share, in the second quarter of 2020.
As of February 28, 2021, 28 of the 30 restaurants were open in some capacity.
Kura Sushi
Kura Sushi
Forward Guidance
The company expects a rebound in sales with relaxed restrictions and increasing vaccination rates.