Business
The ONE Group Hospitality, Inc. Provides Business Update
DENVER--(BUSINESS WIRE)-- The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) provides a business update in advance of the
About this update from The One Group Hospitality, Inc.
[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nThe ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) provides a business update in advance of the Company’s participation at three investor conferences.\n\nAs of May 31st, quarter-to-date comparable sales* in 2021 compared to 2019 increased 35.2% on a consolidated basis, 49.2% for STK and 22.0% for Kona Grill. All of the Company’s domestic restaurants are operating with indoor dining rooms. On average, the Company’s domestic indoor dining capacity for May 2021 was 82%. All of the Company’s non-seasonal international venues are open, and STK Ibiza will open for the summer vacation season in June.\n\nParticipation at investor conferences include:\n\n\nOn Thursday, June 3, 2021, the Company will hold investor meetings at the 41st Annual Virtual Piper Sandler Consumer Marketplace Conference;\n\n\n\nOn Tuesday, June 8, 2021, the Company will hold investor meetings at Stifel’s Virtual Cross Sector Insight Conference; and\n\n\n\nOn Tuesday, June 22, 2021, the Company will host investor meetings and present at the Jefferies Virtual Consumer Conference. The presentation will begin at 9:10 am ET and can be accessed from the Investor Relations tab of The ONE Group’s website at www.togrp.com under “News / Events”.\n\n\n*Comparable sales represent total U.S. food and beverage sales at owned and managed units opened for at least a full 18-month period. This measure includes total revenue from our owned and managed locations. Two-year comparable sales relates to the comparison of comparable sales for the period of 4/1/2021 through 5/31/2021 to the period of 4/1/2019 through 5/31/2019. The Company monitors sales growth at its established restaurant base in addition to growth that results from restaurant acquisitions; the Company has presented two-year comparable sales to illustrate how sales at its restaurant base before the COVID-19 pandemic compare to sales as COVID-19 restrictions have eased and the Company has begun to recover lost sales.\n\nAdditional Information\n\n\n\nSecond Quarter to Date through May 31, 2021\n\n\n\n\n\n\n\n\n\nComparable\nSales* vs. 2019\n\n\n\n\n\n\nComparable\nSales* vs. 2020\n\n\n\n\n\n\nAverage Weekly\nSales Volume\n\n\n\n\n\nSTK\n\n\n\n\n\n\n49.2%\n\n\n\n\n\n\n1596.8%\n\n\n\n\n\n\n$283,100\n\n\n\n\n\nKona Grill\n\n\n\n\n\n\n22.0%\n\n\n\n\n\n\n283.7%\n\n\n\n...