Kura Sushi Q4 2021 Earnings Report
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.
Kura Sushi
Kura Sushi
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
- Changes in consumer preferences