Kura Sushi Inc. is on track to reach its 100th U.S. outlet by the end of the year, part of a broader push to expand its U.S. footprint to 300 locations. The chain drew attention after President Donald Trump disclosed a multimillion-dollar stake in its U.S. subsidiary despite his well-known aversion to sushi.
Push For Overseas Growth
In an interview with The Asahi Shimbun, Hiroyuki Okamoto, the company’s director and general manager of public relations and investor relations, said overseas expansion is now the company’s only real path to continued growth, given Japan’s shrinking population.
“As for the U.S. market, we intend to continue our efforts until we have 300 outlets,” Okamoto said, noting a research firm projected that figure as achievable when Kura Sushi USA Inc. (NASDAQ:KRUS) went public in 2019.
Trump Bought Stake in February
Trump disclosed a stake in Kura Sushi USA, valued between $1 million and $5 million, as per an Office of Government Ethics filing dated Feb. 2.
According to the 1993 book “Lost Tycoon: The Many Lives of Donald J. Trump,” Trump bluntly refused to eat raw fish during a 1990 visit to Tokyo, opting instead for McDonald’s hamburgers throughout the trip.
What Have Shares Done So Far?
In July, the U.S franchise reported quarterly earnings of 3 cents per share, beating the analyst consensus estimate of a loss of 1 cent per share, while quarterly sales of $85.922 million missed the consensus estimate of $86.461 million
Shares have fallen 7.54% so far this year and have lost 36.62% over the past year.
Price Action: The stock closed 0.95% lower on Tuesday at $50.14 and fell 0.95% further in early pre-market trading on Wednesday.
Benzinga edge rankings indicate Kura Sushi USA’s stock has a Momentum score in the 6th percentile and a positive price trend in the short term. However, it has a negative price trend in the medium and long term.
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Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.
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