| Schedule of segment information |
Certain financial information relating to the three and six periods ended June 28, 2026 and the three and six periods ended June 29, 2025 for each segment is provided below (in thousands).
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STK |
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Benihana |
|
Grill Concepts |
|
Other(1) |
|
Total |
For the three periods ended June 28, 2026 |
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|
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Owned restaurant net revenue |
|
$ |
53,226 |
|
$ |
115,666 |
|
$ |
28,183 |
|
$ |
209 |
|
$ |
197,284 |
Owned restaurant cost of sales |
|
|
(12,286) |
|
|
(20,251) |
|
|
(6,004) |
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|
(3) |
|
|
(38,544) |
Owned restaurant operating expenses |
|
|
(31,693) |
|
|
(73,541) |
|
|
(20,956) |
|
|
(127) |
|
|
(126,317) |
Restaurant operating profit |
|
|
9,247 |
|
|
21,874 |
|
|
1,223 |
|
|
79 |
|
|
32,423 |
Management, license, franchise and incentive fee revenue |
|
|
2,618 |
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|
461 |
|
|
— |
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|
114 |
|
|
3,193 |
General and administrative (including stock-based compensation of $1,137) |
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(14,008) |
Depreciation and amortization |
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(11,020) |
Lease termination and restaurant closure expenses |
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(919) |
Pre-opening expenses |
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|
|
|
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|
|
|
|
|
|
|
|
(2,859) |
Transition and integration expenses |
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|
|
|
|
|
|
|
|
|
|
|
|
|
(193) |
Transaction costs |
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|
|
|
|
|
|
|
|
|
|
|
|
|
(26) |
Other expenses |
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|
|
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|
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|
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|
|
|
(34) |
Interest expense, net of interest income |
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|
|
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|
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|
|
|
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(9,623) |
Loss before benefit for income taxes |
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|
|
|
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|
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|
|
|
|
|
|
(3,066) |
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|
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|
|
|
|
|
|
Reconciliation of total revenues |
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Owned restaurant net revenue |
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|
|
|
|
|
|
|
|
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|
|
197,284 |
Management, license, franchise and incentive fee revenue |
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|
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|
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|
3,193 |
Total revenues |
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$ |
200,477 |
(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; sales and expenses that relate to 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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|
|
|
|
STK |
|
Benihana |
|
Grill Concepts |
|
Other(1) |
|
Total |
For the three periods ended June 29, 2025 |
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|
|
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|
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|
|
|
|
|
|
|
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Owned restaurant net revenue |
|
$ |
51,319 |
|
$ |
115,400 |
|
$ |
37,020 |
|
$ |
168 |
|
$ |
203,907 |
Owned restaurant cost of sales |
|
|
(12,337) |
|
|
(22,832) |
|
|
(8,019) |
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|
(2) |
|
|
(43,190) |
Owned restaurant operating expenses |
|
|
(30,726) |
|
|
(71,796) |
|
|
(26,807) |
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|
(164) |
|
|
(129,493) |
Restaurant operating profit |
|
|
8,256 |
|
|
20,772 |
|
|
2,194 |
|
|
2 |
|
|
31,224 |
Management, license, franchise and incentive fee revenue |
|
|
2,844 |
|
|
553 |
|
|
— |
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|
75 |
|
|
3,472 |
General and administrative (including stock-based compensation of $1,470) |
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(11,662) |
Depreciation and amortization |
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|
|
|
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|
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(10,870) |
Lease termination and restaurant closure expenses |
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|
|
|
|
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|
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|
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(5,635) |
Pre-opening expenses |
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|
|
|
|
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|
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|
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(1,579) |
Transition and integration expenses |
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|
|
|
|
|
|
|
|
|
|
|
|
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(3,949) |
Transaction costs |
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|
|
|
|
|
|
|
|
|
|
|
|
|
(61) |
Other expenses |
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|
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(278) |
Interest expense, net of interest income |
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|
|
|
|
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|
|
|
|
|
|
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(10,295) |
Loss before provision for income taxes |
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|
|
|
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|
|
|
|
|
|
|
|
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(9,633) |
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|
|
Reconciliation of total revenues |
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|
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Owned restaurant net revenue |
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|
|
|
|
|
|
|
|
|
|
|
|
|
203,907 |
Management, license, franchise and incentive fee revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,472 |
Total revenues |
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|
|
|
|
|
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|
|
|
|
$ |
207,379 |
(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; sales and expenses that relate to 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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|
|
|
|
|
|
|
|
|
STK |
|
Benihana |
|
Grill Concepts |
|
Other(1) |
|
Total |
For the six periods ended June 28, 2026 |
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|
|
|
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|
|
|
|
|
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|
|
|
|
Owned restaurant net revenue |
|
$ |
114,194 |
|
$ |
235,890 |
|
$ |
56,120 |
|
$ |
372 |
|
$ |
406,576 |
Owned restaurant cost of sales |
|
|
(25,995) |
|
|
(41,191) |
|
|
(11,867) |
|
|
(25) |
|
|
(79,078) |
Owned restaurant operating expenses |
|
|
(65,979) |
|
|
(147,438) |
|
|
(41,626) |
|
|
(310) |
|
|
(255,353) |
Restaurant operating profit |
|
|
22,220 |
|
|
47,261 |
|
|
2,627 |
|
|
37 |
|
|
72,145 |
Management, license, franchise and incentive fee revenue |
|
|
5,615 |
|
|
896 |
|
|
— |
|
|
206 |
|
|
6,717 |
General and administrative (including stock-based compensation of $2,271) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(29,030) |
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(21,425) |
Lease termination and restaurant closure expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,884) |
Pre-opening expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,330) |
Transition and integration expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(659) |
Transaction costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(26) |
Other expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(54) |
Interest expense, net of interest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
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(19,369) |
Income before provision for income taxes |
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|
|
|
|
|
|
|
|
|
|
|
|
|
1,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of total revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owned restaurant net revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
406,576 |
Management, license, franchise and incentive fee revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,717 |
Total revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
413,293 |
|
(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; sales and expenses that relate to the Company’s major off-site events group, which supports all brands and venue concepts; and revenue generated from gift card programs. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STK |
|
Benihana |
|
Grill Concepts |
|
Other(1) |
|
Total |
For the six periods ended June 29, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owned restaurant net revenue |
|
$ |
106,185 |
|
$ |
230,741 |
|
$ |
74,106 |
|
$ |
273 |
|
$ |
411,305 |
Owned restaurant cost of sales |
|
|
(25,446) |
|
|
(44,928) |
|
|
(15,931) |
|
|
(5) |
|
|
(86,310) |
Owned restaurant operating expenses |
|
|
(62,347) |
|
|
(142,155) |
|
|
(53,556) |
|
|
(210) |
|
|
(258,268) |
Restaurant operating profit |
|
|
18,392 |
|
|
43,658 |
|
|
4,619 |
|
|
58 |
|
|
66,727 |
Management, license, franchise and incentive fee revenue |
|
|
6,037 |
|
|
1,022 |
|
|
— |
|
|
144 |
|
|
7,203 |
General and administrative (including stock-based compensation of $3,102) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(24,753) |
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(20,699) |
Lease termination and restaurant closure expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5,706) |
Pre-opening expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3,260) |
Transition and integration expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(7,668) |
Transaction costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(130) |
Other expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(323) |
Interest expense, net of interest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(20,117) |
Loss before provision for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8,726) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of total revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owned restaurant net revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
411,305 |
Management, license, franchise and incentive fee revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,203 |
Total revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
418,508 |
(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; sales and expenses that relate to the Company’s major off-site events group, which supports all brands and venue concepts; and revenue generated from gift card programs.
|