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Kura Sushi Beats in Q4

Kura Sushi USA Inc. (Nasdaq: KRUS) said it continues to recover from the impacts of the pandemic as it looks to store growth next year.

The revolving sushi bar concept, which counts 33 restaurants, said it plans to open between eight and 10 restaurants next year, with sales guidance in the range of $130 million to $140 million.

The outlook came with Kura’s results for its fiscal fourth quarter ended Aug. 31, with continued improvement seen from the pandemic year.

Kura reported total sales of $27.9 million, up from $5.5 million in the year-ago period when the chain was impacted by Covid operating constraints. Wall Street analysts on average expected revenue of $25.1 million.

The company reported an adjusted net loss of $1.4 million, narrowed from $7 million a year ago. Analysts expected a net loss of $2.2 million.

Shares of the company rose 4.6% to $57 in after-hours trading for a market cap of $528.4 million.

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