Benihana's Small Chains Thrive, Expand

MIAMI-Asian restaurant outfit Benihana continues its unit growth as RA Sushi and Haru, post strong same-store sales results. The company is planning 10 new locations this year across its chains, up from six stores during its last fiscal year and has another five in development.

Same-store sales came in at 9.2% year over year at the 13-location RA Sushi and 9.1% at Haru, which operates seven sushi eateries, for the fourth quarter ended April 1. The company is opening six RA Sushi’s and two Haru’s this year. “We believe we are in the early stages of an accelerated rollout,” said Joel A. Schwartz, Benihana’s chairman and chief executive officer, during its fourth-quarter conference call.

At the 59-store Benihana chain, same-store sales were up 4.7%. The company is opening two of those units this year and is remodeling the chain. Executives expect 17 units in the portfolio to be renovated by the end of the year and another four to start during the period. Renovations cost between $2 million and $2.3 million for each store.