Kura Sushi shares rise 6% on sales beat, raised outlook

By Ben Glickman

Shares of Kura Sushi USA (KRUS) rose after fiscal second-quarter sales rose sharply and the company lifted its full-year revenue guidance.

The stock was up 6.2% to $110.25 in late Thursday trading following a 0.3% decline at the close. Shares are up 37% this year.

The sushi restaurant chain's sales rose 31% to $57.3 million in the quarter ended Feb. 29, topping analysts' expectations for $56.6 million.

Kura lifted its full-year revenue forecast to $243 million to $246 million from prior guidance of $239 million to $244 million.

The company also said it now expects general and administrative expenses to be 14% to 14.5% of sales for the full fiscal year. The company had previously said it expected those expenses to be 14.5% of sales.

Kura posted a loss of $998,000, or nine cents a share, in the quarter, compared with a loss of $1 million, or 10 cents a share, a year earlier. Analysts expected a per-share loss of three cents.

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04-04-24 1917ET

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