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Aug 31, 2023
Kura Sushi Q4 2023 Earnings Report
Kura Sushi achieved record-breaking year with a strong fiscal fourth quarter, driven by comparable sales growth and new restaurant openings.
Key Takeaways
Kura Sushi USA, Inc. reported a successful fiscal fourth quarter and fiscal year 2023. Total sales increased to $54.9 million, with a comparable restaurant sales increase of 6.5%. The company opened four new restaurants and achieved significant growth in operating and net income.
Total sales reached $54.9 million, up from $42.0 million in Q4 2022.
Comparable restaurant sales increased by 6.5% compared to Q4 2022.
Operating income rose to $2.2 million, compared to $1.9 million in Q4 2022.
Net income increased to $2.9 million, or $0.25 per diluted share, compared to $1.9 million, or $0.19 per diluted share, in Q4 2022.
Forward Guidance
Kura Sushi anticipates total sales between $238 million and $243 million, general and administrative expenses as a percentage of sales to be approximately 14.5%, and the opening of 11 to 13 new restaurants with average net capital expenditures per unit of approximately $2.5 million for fiscal year 2024.
Positive Outlook
- Total sales between $238 million and $243 million
- Opening of 11 to 13 new restaurants
- Comparable restaurant sales increases
- Growth strategy execution
- Expansion in existing and new markets
Challenges Ahead
- General and administrative expenses as a percentage of sales to be approximately 14.5%
- Rising interest rates
- Possibility of a recession
- Instability in financial markets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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