| Schedule of segment information |
Certain financial information relating to the three periods ended March 29, 2026 and March 30, 2025 for each segment is provided below (in thousands).
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STK |
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Benihana |
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Grill Concepts |
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Other(1) |
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Total |
For the three periods ended March 29, 2026 |
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Owned restaurant net revenue |
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$ |
60,968 |
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$ |
120,224 |
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$ |
27,937 |
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$ |
163 |
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$ |
209,292 |
Owned restaurant cost of sales |
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(13,709) |
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|
(20,940) |
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(5,863) |
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(22) |
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|
(40,534) |
Owned restaurant operating expenses |
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(34,286) |
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|
(73,897) |
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(20,670) |
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(183) |
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|
(129,036) |
Restaurant operating profit |
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|
12,973 |
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|
25,387 |
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|
1,404 |
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(42) |
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|
39,722 |
Management, license, franchise and incentive fee revenue |
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2,997 |
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|
435 |
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— |
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|
92 |
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3,524 |
General and administrative (including stock-based compensation of $1,134) |
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(15,022) |
Depreciation and amortization |
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(10,405) |
Lease termination and restaurant closure expenses |
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(1,965) |
Pre-opening expenses |
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(1,471) |
Transition and integration expenses |
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(466) |
Other expenses |
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(20) |
Interest expense, net of interest income |
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(9,746) |
Loss before benefit for income taxes |
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4,151 |
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Reconciliation of total revenues |
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Owned restaurant net revenues |
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|
209,292 |
Management, license, franchise, and incentive fee revenue |
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|
3,524 |
Total revenues |
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$ |
212,816 |
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STK |
|
Benihana |
|
Grill Concepts |
|
Other(1) |
|
Total |
For the three periods ended March 30, 2025 |
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Owned restaurant net revenue |
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$ |
54,866 |
|
$ |
115,341 |
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$ |
37,086 |
|
$ |
105 |
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$ |
207,398 |
Owned restaurant cost of sales |
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|
(13,109) |
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|
(22,096) |
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|
(7,912) |
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(3) |
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|
(43,120) |
Owned restaurant operating expenses |
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|
(31,621) |
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|
(70,359) |
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(26,749) |
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(46) |
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|
(128,775) |
Restaurant operating profit |
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|
10,136 |
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|
22,886 |
|
|
2,425 |
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|
56 |
|
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35,503 |
Management, license, franchise and incentive fee revenue |
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|
3,193 |
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|
469 |
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— |
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|
69 |
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3,731 |
General and administrative (including stock-based compensation of $1,632) |
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(13,091) |
Depreciation and amortization |
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(9,829) |
Lease termination and restaurant closure expenses |
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|
(71) |
Pre-opening expenses |
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(1,681) |
Transition and integration expenses |
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(3,719) |
Transaction costs |
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(69) |
Other expenses |
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(45) |
Interest expense, net of interest income |
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(9,822) |
Loss before benefit for income taxes |
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|
907 |
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Reconciliation of total revenues |
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Owned restaurant net revenue |
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|
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|
|
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|
207,398 |
Management, license, franchise and incentive fee revenue |
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|
3,731 |
Total revenues |
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$ |
211,129 |
| (1) |
Other, which is not a reportable operating segment, includes sales and expenses that relate to STK Meat Market, an e-commerce platform that offers signature steak cuts nationwide, the Company’s major off-site events group, which supports all brands and venue concepts, and revenue generated from gift card programs.
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