| Schedule of segment information |
Certain financial information relating to the years ended December 28, 2025 and December 31, 2024 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 year ended December 28, 2025 |
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Owned restaurant net revenues |
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$ |
211,257 |
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$ |
442,029 |
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$ |
137,788 |
|
$ |
688 |
|
$ |
791,762 |
Owned restaurant cost of sales |
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(49,547) |
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(84,213) |
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(29,803) |
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(16) |
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(163,579) |
Owned restaurant operating expenses |
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(123,822) |
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(277,132) |
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(101,741) |
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(375) |
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|
(503,070) |
Restaurant operating profit |
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|
37,888 |
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|
80,684 |
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|
6,244 |
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|
297 |
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|
125,113 |
Management, license, franchise and incentive fee revenue |
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11,710 |
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|
1,939 |
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— |
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|
311 |
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|
13,960 |
General and administrative expenses |
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(52,540) |
Depreciation and amortization |
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(43,192) |
Transition and integration expenses |
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(11,202) |
Loss on impairment of non-current assets |
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(10,610) |
Lease termination and exit expenses |
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(7,949) |
Pre-opening expenses |
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(5,741) |
Transaction and exit costs |
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(256) |
Other (income) expenses |
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|
418 |
Interest expense, net of interest income |
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(40,902) |
Loss before benefit for income taxes |
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(32,901) |
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Reconciliation of total revenues |
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Owned restaurant net revenues |
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|
791,762 |
Management, license, franchise, and incentive fee revenue |
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|
13,960 |
Total revenues |
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$ |
805,722 |
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STK |
|
Benihana |
|
Grill Concepts |
|
Other(1) |
|
Total |
For the year ended December 31, 2024 |
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Owned restaurant net revenues |
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$ |
204,713 |
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$ |
296,847 |
|
$ |
155,851 |
|
$ |
1,504 |
|
$ |
658,915 |
Owned restaurant cost of sales |
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(49,250) |
|
|
(56,191) |
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|
(33,309) |
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(44) |
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(138,794) |
Owned restaurant operating expenses |
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(117,357) |
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(182,523) |
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(113,451) |
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(256) |
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(413,587) |
Restaurant operating profit |
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|
38,106 |
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|
58,133 |
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|
9,091 |
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|
1,204 |
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|
106,534 |
Management, license, franchise and incentive fee revenue |
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12,516 |
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|
1,595 |
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— |
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|
318 |
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|
14,429 |
General and administrative expenses |
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(44,234) |
Depreciation and amortization |
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(34,096) |
Transition and integration expenses |
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(13,681) |
Loss on impairment of non-current assets |
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— |
Lease termination and exit expenses |
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(1,567) |
Transaction and exit costs |
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(8,855) |
Other (income) expenses |
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(124) |
Interest expense, net of interest income |
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(31,109) |
Loss on early debt extinguishment |
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(4,149) |
Income before benefit for income taxes |
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(26,361) |
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Reconciliation of total revenues |
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Owned restaurant net revenues |
|
|
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|
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|
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|
658,915 |
Management, license, franchise, and incentive fee revenue |
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|
14,429 |
Total revenues |
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$ |
673,344 |
| (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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