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Here's Why Kura Sushi Stock Skyrocketed Today

TheMotleyFool

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Here's Why Kura Sushi Stock Skyrocketed Today: https://g.foolcdn.com/editorial/images/760333/happy-investor-excited.jpg

Shares of restaurant chain Kura Sushi USA (NASDAQ: KRUS) skyrocketed on Friday after the company reported financial results for its fiscal first quarter of 2024. Q1 ended in November. And during those three months, the company grew slightly faster than expected. That's why Kura Sushi stock was up a whopping 22.5% as of 1:15 p.m. ET.

Kura Sushi is very small at only 56 locations. However, the company is growing fast and profitably, which is exciting for investors.

In Q1, Kura Sushi had sales of $51.5 million, which was up 31% year over year. It opened four new locations during the quarter, which provided a substantial sales boost. And same-store sales were also up a modest 3.8%.

Source Fool.com

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