News for Benihana
Jan 14 · 7:26:00 AM · Source: Company Press Release
Benihana announced two big high level management changes. Juan C. Garcia has resigned as President and Chief Administrative Officer. The Board of Directors has eliminated the position of Chief Administrative Officer as part of an overall plan to reduce corporate overhead. CEO Richard C. Stockinger has been appointed to the additional role of President.
Also, the Board of Directors has appointed Gene R. Baldwin as interim Chief Financial Officer, replacing Jose Ortega who has resigned as Vice President - Finance, Chief Financial Officer, effective immediately.
The company press release included this quote from CEO Mr. Stockinger - "We wish both Jose and Juan well in their future endeavors and thank them for their years of service at Benihana." That can usually be interpreted as "don't let the door hit you on the way out."
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by Rich Pike
Jan 14 · 7:18:00 AM · Source: Company Press Release
Benihana reported total restaurant sales and comparable restaurant sales for the twelve-week third fiscal quarter ended January 3, 2010. Total restaurant sales increased 4.8% to $70.0 million in the third fiscal quarter 2010 from $66.8 million in the third fiscal quarter 2009. For the third fiscal quarter 2010, Company-wide comparable restaurant sales were (3.4%), including (5.9%) at Benihana teppanyaki, 4.4% at RA Sushi, and (1.6%) at Haru.
Another chain continuing the trend reporting SSS declines. Not surprising with such high continuing unemployment.
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by Rich Pike
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