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By Exec Edge Editorial Staff
The ONE Group Hospitality (NASDAQ: STKS) said GAAP operating income increased to $6.6 million in the second quarter from $0.7 million a year earlier.
Total GAAP revenues decreased 3.3% to $200.5 million in the quarter due to the impact of permanent and temporary restaurant closures, it said.
“Our second quarter results underscore the momentum we are building across the portfolio, driven by the continued strength of our Vibe Dining brands,” President and CEO Emanuel “Manny” Hilario said. “Consolidated comparable sales were positive, with positive transaction growth across all segments.”
The company said it remains focused on expanding its STK and Benihana brands while driving profitability and long-term shareholder value.
The post The ONE Group 2Q Operating Income Jumps on Vibe Dining Strength appeared first on ExecEdge.
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