KRUS: Barclays Initiate Coverage and Host First Discussion

(NASDAQ:KRUS) Kura Sushi US Barclays Eat Conference

Kura Sushi US

Weighting as of writing: 3%

20th December 2023 - Barclays Eat Conference

On November 29th, Barclays initiated coverage on Kura Sushi US for the first time. The interview and transcript which followed provided good context on the current market landscape and how Kura Sushi is one of the few chains in their space taking market share. Altogether, nothing “new” was learned, but it’s great to see the company will be getting more coverage from an institution going forward. At present, only ~7 institutions cover the name.

Some key points from the conference:

• The pandemic crushed mom-and-pop sushi stores and because of the skill needed, those restaurants won’t restore as fast as a pizza store might. Kura benefited from this.

• The parent company’s scale allowed Kura to leverage technology early.

• The Fast Act is unlikely to have an impact on Kura Sushi next year.

  • California minimum wage increase is expected to increase relative value proposition for consumers.

• Jeff Utz, CFO, talked about st…