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Here's Why Kura Sushi Stock Popped Today

TheMotleyFool

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Here's Why Kura Sushi Stock Popped Today: https://g.foolcdn.com/editorial/images/738927/investor-smiles-largely-with-hand-on-head-while-looking-at-computer.jpg

Shares of restaurant chain Kura Sushi (NASDAQ: KRUS) popped today after the company reported financial results for its fiscal third quarter of 2023. As of 12:15 p.m. ET on Friday, Kura Sushi stock was up almost 13% and approaching an all-time high.

Kura Sushi is small restaurant chain with only 47 locations. But these locations pack a punch: The company generated $49.2 million in third-quarter revenue, which was up 29% year over year. This top-line growth included a 10% jump in same-store sales.

The real surprise from Kura Sushi in the third quarter was its profitability. The company had net income of $1.7 million, which more than tripled its figure in the prior-year quarter and was well ahead of investors' expectations.

Source Fool.com

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