Kura Sushi (KRUS) Reports Q3 Preliminary Results, Stock Down

The lower-than-expected preliminary financial results for the fiscal third quarter were due to unanticipated softness in the California market. Despite the unexpected sales volumes, the company's team made diligent efforts to control costs, which allowed KRUS to maintain its restaurant-level operating profit margins of 20% and manage general and administrative costs effectively. The company expects total sales to be $63.1 million. In third-quarter fiscal 2024, comparable restaurant sales are likely to have ...