Benihana Inc. announced its first quarter 2011 earnings of 8 cents per share, which missed the Zacks Consensus Estimate of 10 cents, but soared 60% from a year-ago quarter’s 5 cents.
Results reflect the benefits of the Benihana Teppanyaki Renewal Program, which the company initiated in 2009 to improve the dining experience for the guests at the Benihana Teppanyaki restaurants.
The U.S. chain of Japanese restaurants posted a 5.0% year-over-year rise in total revenue to $100.8 million, as comparable restaurant sales jumped 2.4%, resulting from a 3.3% same store-sales increase at Benihana Teppanyaki restaurants and a 2.4% leap at Haru, whereas same store-sales remained flat year over year at RA Sushi restaurant. Full post.