Yoshiharu reports Q3 EPS (91c) vs. (67c) last year

Reports Q3 revenue $3M vs. $2M last year…”The third quarter of 2024 was highlighted by strong revenue growth, the grand opening of our 15th location, and new partnerships and initiatives, all positioning us to grow the brand and move us steadily towards profitability,” said James Chae, Yoshiharu’s (YOSH) President, CEO and Chairman of the Board. “In the quarter, revenue growth was driven by our restaurant service across Southern California, Las Vegas and diversified mix of service channels, including takeout and delivery. We have successfully optimized operating expenses while maintaining a strong Average Unit Volume comparable to previous periods, despite continued headwinds from input costs, consumer price sensitivity, and higher cost of capital. “We continued to expand our presence and cuisine in both the US and international dining scenes in the third quarter. We celebrated the grand opening of our newest US location in San Clemente, CA, a classic beach town destination known for its beaches, world class surfing and vibrant dining scene. The new location benefits from excellent access and high visibility to I-5, drawing an estimated 8,300 visits a day and over 3 million visits a year, surrounded by an affluent population of more than 69,000 with an average household income of over $145,000 within a 3-mile radius.