TGIF 🍣Have a wonderful weekend everyone! ...

Platform Features - Katana 通过 Sushi 提供便捷的交易体验 [1] - Katana 提供多个交易对的高收益 APY (年化收益率) [1] - Katana 致力于提供真实且可持续的收益 [1]

Core Insights - Kura Sushi reported Q3 CY2025 revenue of $79.45 million, a 20.4% increase year-on-year, exceeding analyst estimates of $78.95 million by 0.6% [1][6] - The company's full-year revenue guidance of $332 million is 2.1% below analysts' expectations [1] - Non-GAAP profit per share was $0.20, surpassing consensus estimates by 63.4% [1][6] Financial Performance - Adjusted EBITDA for the quarter was $7.41 million, slightly above analyst estimates of $7.36 million, with a margin of 9.3% [6] - Operating margin improved to 1.8%, up from -8.8% in the same quarter last year [6] - Same-store sales remained flat year-on-year, compared to a decline of 3.1% in the same quarter last year [6] - The company operated 79 locations at the end of the quarter, an increase from 64 locations in the same quarter last year [6] - Market capitalization stands at $587.9 million [6] Management Commentary - Management expressed concerns over sluggish same-store sales and cautious consumer behavior, attributing flat comparable sales to a challenging operating environment [3] - Marketing initiatives, including intellectual property collaborations and targeted promotions, were highlighted as crucial in mitigating worse outcomes [3][5] - Future strategies include updates to the rewards program, marketing of the reservation system, and the rollout of robotic dishwashers to enhance productivity and customer engagement [4] - CFO noted that restaurant-level operating profit margins are expected to remain below historical targets due to ongoing cost pressures [4]

Core Insights - Kura Sushi reported Q3 CY2025 results that exceeded market revenue expectations, with a year-on-year sales increase of 20.4% to $79.45 million [1][7] - The company's full-year revenue guidance of $332 million at the midpoint was 1.9% below analysts' estimates [1] - Non-GAAP profit of $0.20 per share was 63.4% above analysts' consensus estimates [1] Company Performance - Kura Sushi opened a record of 15 new locations during fiscal 2025, contributing to its growth [3] - The company managed to control corporate G&A expenses, resulting in an annual adjusted EBITDA growth of over 30% [3] - Despite challenges such as a volatile consumer environment and tariff pressures, Kura Sushi remains optimistic about continued growth in fiscal 2026 [3] Revenue and Growth Metrics - Kura Sushi's revenue over the past 12 months was $282.8 million, indicating potential for faster growth compared to larger competitors [5] - The company achieved a compounded annual growth rate of 28% in sales over the last six years, normalizing for COVID-19 impacts [6] - Same-store sales were flat year on year, with a slight decline of 3.1% in the same quarter last year [7] Financial Highlights - Revenue for Q3 was $79.45 million, beating analyst estimates of $78.95 million by 0.6% [7] - Adjusted EPS of $0.20 surpassed analyst estimates of $0.12 by 63.4% [7] - Adjusted EBITDA was $7.41 million, slightly above analyst estimates of $7.36 million, with a margin of 9.3% [7] - Operating margin improved to 1.8%, up from -8.8% in the same quarter last year [7] - The company had 79 locations at the end of the quarter, an increase from 64 in the same quarter last year [7] - Market capitalization stood at $711.5 million [7]

Platform Updates - Blade is live on multiple networks [1] - Aggregator crossed $10 Billion+ total volume [1] - FRAX, Aegis farms are live on Katana [1] - Blade's novel FMM (Flexible Market Maker) is explained [1] Katana ALM (Asset Liability Management) - Katana ALMs by the numbers [1]

One of the most successful sushi chefs in the world, Nobu Matsuhisa, started with just one restaurant. He’s created a global empire worth close to $1 billion, fusing Japanese simplicity with a South American twist. Inspired by business partner and Hollywood superstar, Robert DeNiro, he’s expanding from restaurants and hotels into real estate. His name is on some of the world’s hottest properties across five continents. He tells Bloomberg’s Haslinda Amin about his culinary philosophy and shares the secret to ...

Yummy in Dallas, yummier LPing on Sushi.Crypto Texan | katana ⚔️ (@Crypto_Texan):there is a restaurant in Dallas called Deep Sushiwhich is exactly how i think about @sushiswap on @katana ...

[Music] It's good to be here this evening. Um I'll be speaking this evening about exporting excellence. Many years ago I was in medical school.I remember we had a conversation with one of our consultants and um you know medical practice how that we have all the big names Salmonellosis Lististeriosis. I just said all of that to show you that I went to school. But um and we had all of that conversation and I remember full well that there was something that stood out for me.There was a name I mean there was on ...

Core Insights - Membership-based warehouse clubs like Costco, Sam's Club, and BJ's Wholesale are experiencing significant growth due to increased membership and changing consumer demographics, particularly among younger shoppers [2][3][27] Group 1: Membership Growth and Expansion - Costco has nearly 80 million paid household members globally, while BJ's has about 8 million members, reflecting a 55% increase since going public [25] - Sam's Club aims to double its membership over the next eight to ten years, with membership income growing nearly 8% in the most recent quarter [26] - All three retailers are expanding their locations, with Costco planning to open about 30 clubs per year, BJ's targeting 25 to 30 new clubs over the next two fiscal years, and Sam's Club planning to open 15 clubs annually [10][9][8] Group 2: Consumer Trends and Preferences - Younger consumers, particularly Gen Z and millennials, are driving membership growth, with these demographics accounting for half of Sam's Club's membership growth over the past two years [27] - The average age of Costco members has decreased, with nearly half of new members being under 40 [28] - Spending among customers aged 25 to 34 on general merchandise at clubs rose by 3% from January to July 2025 compared to the previous year [29] Group 3: Retail Strategies and Innovations - Warehouse clubs are enhancing the shopping experience by incorporating technology such as curbside pickup, home delivery, and self-checkout options like Sam's Club's Scan & Go, which accounts for about 40% of transactions [18][20] - Costco and BJ's are expanding their digital offerings, with BJ's e-commerce sales jumping 34% in the most recent quarter [20][22] - Clubs are diversifying their merchandise, including trendy brands and private label products, to attract a broader customer base [30][32] Group 4: Economic Factors and Challenges - High inflation has increased the appeal of warehouse clubs as consumers seek cheaper options for groceries and household staples [4] - Retailers are navigating challenges such as an uncertain job market and tariffs, with strategies in place to mitigate the impact of high tariffs on imported goods [11][12] - BJ's plans to carry more holiday items from the U.S. or countries with lower tariff exposure to adapt to these economic pressures [13]

Kura Sushi USA FY Conference Summary Company Overview - **Company**: Kura Sushi USA (NasdaqGM: KRUS) - **Fiscal Year**: 2025 - **Conference Date**: September 11, 2025 Key Points Reservation System Implementation - The introduction of a reservation system aims to reduce multi-hour wait times, especially on weekends, enhancing customer experience by seating guests within two minutes of arrival [2][3] - The system is expected to drive positive same-store sales in fiscal 2026, with plans to advertise it outside the rewards program [2][3] IP Collaborations - Fiscal 2025 saw a lack of IP collaborations for a couple of months, leading to questions about their impact; however, the company confirmed that these collaborations are significant revenue drivers [9][10] - An IP committee was established to manage and increase the number of collaborations, with plans for seven to eight campaigns in fiscal 2026 compared to the typical four to five [11][15] - The success of the Hollow Light campaign demonstrated that smaller, passionate audiences can effectively support campaigns without traditional giveaways [12][13] Cost Management and Supply Chain - 65% of purchases are sourced overseas, with 45% from Japan, Vietnam, and South Korea; tariffs currently stand at 25% for Japan [17][18] - The company expects to mitigate tariff impacts through vendor negotiations, aiming for a 50-50 split on tariff costs [17][18] - Effective pricing strategies are in place, with a 2% price drop scheduled for November 1, leading to expectations of significant pricing power thereafter [18] Store-Level Margins and Labor Costs - The company aims to achieve a restaurant-level margin of 20% or better in fiscal 2026 [16] - Labor costs have normalized from high single-digit inflation to low single-digit inflation, with expectations for continued improvement in fiscal 2026 [37][38] Development Strategy - The company plans a 70% focus on existing markets and 30% on new markets for fiscal 2026, anticipating a 400 basis point headwind to same-store sales [30][31] - The pipeline for fiscal 2026 looks promising, with expectations for improved unit economics and reduced cannibalization effects [31][32] Cash Position and Future Outlook - Kura Sushi holds approximately $90 million in cash and investments, with expectations to become cash flow positive in the next four to five years [40] - The company sees significant growth potential in the sushi market, particularly due to industry fragmentation and post-pandemic shifts in consumer behavior [42] Loyalty Program Enhancements - The company is working on a tier-based loyalty system and frequency-based giveaways to enhance customer engagement and drive repeat visits [25][26] Dishwashing Robot Initiative - The certification process for a proprietary dishwashing robot is nearing completion, with potential retrofitting in up to 50 existing restaurants, expected to reduce labor costs by about 50 basis points [27][28] Additional Insights - The company is optimistic about the total addressable market, especially following positive developments in previously unexplored markets like Bakersfield [42] - The focus on asset-light IP campaigns and innovative marketing strategies is expected to drive future growth and customer engagement [12][15]