Benihana Inc. Reports Twentieth Consecutive Period of Comparable Sales Growth

Benihana Inc. (NASDAQ: BNHN; BNHNA), reported total restaurant sales and comparable restaurant sales for the second four-week period (August 15, 2011 – September 11, 2011) of the second fiscal quarter of 2012. The announcement marks the Company's twentieth consecutive four-week period of comparable restaurant sales growth.

For the four-week period ended September 11, 2011, total restaurant sales increased year over year by 5.6% to $24.9 million from $23.5 million, and Company-wide comparable restaurant sales increased by 6.7% to $24.9 million from $23.4 million. By concept, comparable restaurant sales increased 8.2% at Benihana Teppanyaki and 5.9% at RA Sushi and decreased 1.6% at Haru. These results were driven by traffic growth of 6.2% at Benihana Teppanyaki and 2.5% at RA Sushi and traffic declines of 5.4% at Haru.

During the period, Benihana Teppanyaki represented approximately 67% of total restaurant sales, while RA Sushi and Haru accounted for 24% and 9% of total restaurant sales, respectively. There were 383 store-operating weeks in the second four-week period of the second fiscal quarter of 2012 compared to 388 store-operating weeks in the second four-week period of the second fiscal quarter of 2011.

Sales related to 12 restaurants (3 Benihana Teppanyaki, 1 RA Sushi and all 8 Haru units) were negatively impacted by reduced operating hours or complete closure for one or more days due to the severe weather associated with Hurricane Irene. Comparable sales for the period excluding the impacted days in both the current and prior-year periods would have grown 7.4%, including increases of 8.4% at Benihana Teppanyaki, 6.1% at RA Sushi and 3.0% at Haru. None of these restaurants suffered significant physical damage and all were operating normally soon after the severe weather subsided.

Additionally, one Benihana Teppanyaki restaurant, located on W. 56 St. in Manhattan, began temporary closure during the period for extensive remodeling. This restaurant will be excluded from reported comparable sales results during the temporary closure period, which is expected to be completed in December 2011.

Richard C. Stockinger, Chairman, President and Chief Executive Officer of Benihana Inc., said, "We are very pleased with our performance thus far in the second quarter and with the results for this period in particular. Despite fewer operating hours due to Hurricane Irene, which impacted sales for the period, we once again saw excellent growth driven by increased traffic. Benihana Inc. has now produced twenty consecutive four-week periods of comparable restaurant sales growth. A credit to our talented team, this achievement reflects the continued strength of our operational and promotional efforts and the power of our iconic brand."


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