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Why Kura Sushi USA Stock Soared Today

TheMotleyFool

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Shares of Kura Sushi USA (NASDAQ: KRUS) surged on Thursday after the Japanese-style restaurant chain delivered a surprise profit and boosted its full-year revenue forecast. As of 1:10 p.m. ET, Kura Sushi's stock price was up more than 25%.

Kura Sushi's revenue more than doubled year over year to $38 million in its fiscal 2022 third quarter, which ended on May 31. The gains were driven by new restaurant openings and a 65% surge in sales at the company's existing locations.

Kura Sushi opened one restaurant during the third quarter and a total of six stores over the past year. That brought its store count to 37 locations at the end of May.

Source Fool.com

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