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Aug 31, 2021
Kura Sushi Q4 2021 Earnings Report
Kura Sushi demonstrated business recovery with top line growth and improved comparable restaurant sales.
Key Takeaways
Kura Sushi USA, Inc. reported fiscal fourth quarter 2021 financial results, demonstrating continued momentum in business recovery with significant top-line growth and a 4.9% increase in comparable restaurant sales versus 2019. The company opened one new restaurant during the quarter and had all 32 restaurants open with 100% indoor dining capacity as of August 31, 2021.
Total sales were $27.9 million compared to $5.5 million in the fourth quarter of 2020.
Operating loss was $0.8 million, compared to an operating loss of $6.8 million in the fourth quarter of 2020.
Restaurant-level operating profit was $4.6 million.
One new restaurant opened during the fourth quarter of 2021.
Forward Guidance
Kura Sushi USA, Inc. anticipates total sales between $130 million and $140 million, and general and administrative expenses as a percentage of sales of approximately 17%. The company also plans to open 8 to 10 new restaurants, with average net capital expenditures per unit of approximately $2.1 million.
Positive Outlook
- Total sales between $130 million and $140 million
- 8 to 10 new restaurants planned
- Expansion plans indicate confidence in future growth
- New restaurant performance is strong
- Company whitespace potential is larger than ever
Challenges Ahead
- Guidance assumes no further operating restrictions or material downturns in the pandemic situation
- Restaurant industry remains highly vulnerable to COVID-related volatility
- General and administrative expenses expected to be 17% of sales
- Macroeconomic conditions and other economic factors
Historical Earnings Impact
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Avg. Return Before/After Earnings
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