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Feb 28, 2023
Kura Sushi Q2 2023 Earnings Report
Kura Sushi experienced an exceptional quarter, marked by industry-leading traffic growth, successful unit expansion, and leveraged G&A investment.
Key Takeaways
Kura Sushi USA announced strong financial results for the fiscal second quarter ended February 28, 2023, with total sales increasing to $43.9 million compared to $31.3 million in the same quarter of the previous year. The company also saw a 17.4% increase in comparable restaurant sales and an improvement in operating loss, which was reduced to $1.0 million from $1.9 million in the second quarter of 2022.
Total sales reached $43.9 million, a notable increase from $31.3 million in Q2 2022.
Comparable restaurant sales increased by 17.4% compared to the same quarter last year.
Operating loss improved to $1.0 million, compared to $1.9 million in Q2 2022.
Restaurant-level operating profit was $8.9 million, representing 20.3% of sales.
Kura Sushi
Kura Sushi
Forward Guidance
For the full fiscal year 2023, the Company reiterates and updates the following annual guidance:
Positive Outlook
- Total sales between $185 million and $188 million
- General and administrative expenses as a percentage of sales to be between 15.5% and 16.0%
- 9 to 11 new restaurants
- Average net capital expenditures per unit of approximately $2.5 million
- The Company’s guidance assumes no material changes in consumer behavior or broader macroeconomic trends.