Q1 2026 Kura Sushi USA Inc Earnings Call Transcript
Key Points
- Kura Sushi USA Inc (KRUS) opened 4 new restaurants in the first quarter and has 10 more under construction, indicating strong expansion efforts.
- The company reported a reduction in labor costs as a percentage of sales, renewing confidence in achieving a 100 basis point improvement in fiscal 2026.
- Kura Sushi USA Inc (KRUS) has a strong cash position with $78.5 million in cash equivalents and investments and no debt.
- The company has successfully implemented a 3.5% menu price increase, which has been well-received by customers, contributing to improved traffic and price mix.
- Kura Sushi USA Inc (KRUS) is actively engaging in marketing campaigns and system developments, such as the introduction of a reservation system and collaborations with popular IPs like Kirby, which have been well-received by guests.
- Comparable sales growth was negative 2.5% for the fiscal first quarter, indicating challenges in maintaining sales momentum.
- The company experienced an operating loss of $3.7 million, largely due to tariff pressures on food and beverage costs.
- Food and beverage costs increased to 29.9% of sales from 29% in the prior year quarter, primarily due to tariffs on imported ingredients.
- Other costs as a percentage of sales increased to 16.1% from 14.5% in the prior year quarter, driven by sales deleverage and higher marketing costs.
- Net loss for the quarter was $3.1 million or negative $0.25 per share, compared to a net loss of $1 million or negative $0.08 per share in the prior year quarter.
Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to the Kura Sushi USA, Inc. fiscal first-quarter 2026 earnings conference call. (Operator Instructions) Please note that this call is being recorded.
On the call today, we have Hajime Jimmy Uba, President and Chief Executive Officer; Jeff Uttz, Chief Financial Officer; and Benjamin Porten, Senior Vice President of Investor Relations and system development.
And now, I'd like to turn the call over to Mr. Porten.
Thank you, operator. Good afternoon, everyone, and thank you all for joining. By now, everyone should have access to our fiscal first quarter 2026 earnings release. It can be found at www.kurasushi.com in the Investor Relations section. A copy of the earnings release has also been included in the 8-K we submitted to the SEC.
Before we begin our formal remarks, I need to remind
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