Kura Sushi outlines 16-unit expansion and 18% margin target for 2026 as cost management and pricing gains momentum

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• Shelf registration is precautionary given strong liquidity position

  80% confidence

• Q1 total sales were $73.5 million compared to $64.5 million in prior year period, with comparable restaurant sales of negative 2.5% consisting of negative 2.5% traffic and flat price/mix

  80% confidence

• Management feels very confident about Q2 comps and remains extremely confident about 18% full year margin target

  80% confidence

• Renewed confidence in improving labor costs by 100 basis points in fiscal 2026

  80% confidence

• Company reaffirmed annual guidance for sales of $330-334 million, 16 new unit openings, G&A expenses of 12-12.5% of sales, and full year restaurant-level operating profit margin of approximately 18%

  80% confidence

• Comp improvement attributed to both promotions and consumer trends

  80% confidence

• LTO Kura Reserve bacon sushi was a major traffic driver with IP tie-ins continuing to play significant role in performance

  80% confidence

• Company reduced G&A as a percentage of sales by 80 basis points on an adjusted basis through aggressive cost management

  80% confidence

• Adoption of decoupled reservation system among rewards members was better than expected

  80% confidence

• 10 restaurant units are under construction in addition to four openings to date, with goal of 16 new restaurant openings for the year

  80% confidence

• Dishwashing automation project remains on schedule with installations set for Q3

  80% confidence

• Total sales for fiscal Q1 was $73.5 million with comparable sales growth of negative 2.5%, outperforming comp expectations shared during last earnings call

  80% confidence

• Company forecasts positive comps for Q2 supported by sequential improvements and easier comparisons

  80% confidence

• 18% margin target already includes current pricing and labor initiatives

  80% confidence

• Management absolutely expects positive comps in Q2

  80% confidence

• Company has confidence in achieving flat to slightly positive comps for the full year

  80% confidence

• Company is making great progress towards annual goals and achieving positive comparable sales on a full year basis

  80% confidence

• Food cost benefits from tariff relief would take several months to materialize, and ending up at 30% food cost is something company is proud of given tariff headwinds

  80% confidence

• No plans for additional price increases in fiscal 2026, November price adjustment is considered sufficient

  80% confidence

• Company expects to open one unit in fiscal Q2 and remainder to open in back half of the year

  80% confidence