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California market drags Kura Sushi’s Q3 resultsCalifornia market drags Kura Sushi’s Q3 results

Revolving sushi brand sees ‘unanticipated softness,’ restaurant CEO says

Ron Ruggless, Senior Editor

June 28, 2024

1 Min Read
Kura Sushi Frisco Texas 0 1 1 0
Kura Sushi noticed softness in the California market during the third quarter.Ron Ruggless

Softness in the California market was a drag on Kura Sushi USA Inc.’s results for the third quarter, the company said Thursday.

The Irvine, Calif.-based Kura Sushi, which released preliminary unaudited third quarter results, said it expected sales of about $63.1 million and same-store sales to increase 0.6% in the quarter.

Hajime Uba, Kura Sushi’s president and CEO, said in a statement: “The financial results of our fiscal third quarter did not meet our expectations, due largely to unanticipated softness in the California market.”

For fiscal 2024, the company now expects total sales to be between $235 million and $237 million.

The company will discuss fiscal third quarter 2024 financial results during a webcast at 5 p.m. EDT July 9.

During the fiscal third quarter, the company opened four new restaurants in Orlando, Fla; Atlanta; Scarsdale, N.Y.; and Roseville, Calif.

Kura Sushi USA has 63 locations across 17 states and Washington, D.C. The company offers a revolving sushi service model. Kura Sushi USA, founded in in 2008 as a subsidiary of Kura Sushi Inc., a Japan-based revolving sushi chain with over 550 restaurants.

Contact Ron Ruggless at [email protected]

Follow him on X/Twitter: @RonRuggless

About the Author

Ron Ruggless

Senior Editor, Nation’s Restaurant News / Restaurant Hospitality

Ron Ruggless serves as a senior editor for Informa Connect’s Nation’s Restaurant News (NRN.com) and Restaurant Hospitality (Restaurant-Hospitality.com) online and print platforms. He joined NRN in 1992 after working 10 years in various roles at the Dallas Times Herald newspaper, including restaurant critic, assistant business editor, food editor and lifestyle editor. He also edited several printings of the Zagat Dining Guide for Dallas-Fort Worth, and his articles and photographs have appeared in Food & Wine, Food Network and Self magazines. 

Ron Ruggless’ areas of expertise include foodservice mergers, acquisitions, operations, supply chain, research and development and marketing. 

Ron Ruggless is a frequent moderator and panelist at industry events ranging from the Multi-Unit Foodservice Operators (MUFSO) conference to RestaurantSpaces, the Council of Hospitality and Restaurant Trainers, the National Restaurant Association’s Marketing Executives Group, local restaurant associations and the Horeca Professional Expo in Madrid, Spain.

Ron Ruggless’ experience:

Regional and Senior Editor, Informa Connect’s Nation’s Restaurant News and Restaurant Hospitality (1992 to present)

Features Editor – Dallas Times Herald (1989-1991)

Restaurant Critic and Food Editor – Dallas Times Herald (1987-1988)

Editing Roles – Dallas Times Herald (1982-1987)

Editing Roles – Charlotte (N.C.) Observer (1980-1982)

Editing Roles – Omaha (Neb.) World-Herald (1978-1980)

Email: [email protected]

Social media:

Twitter@RonRuggless

LinkedIn: www.linkedin.com/in/ronruggless

Instagram: @RonRuggless

TikTok: @RonRuggless

 

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