Financials - July 2026
MTY Reports Second Quarter Results for Fiscal 2026
July 10, 2026 06:00 ET
GAAP Measures:
Segment profits were $59.9 million during the 13 week period ended May 31, 2026 (the “second quarter”), a decrease of $9.4 million compared to the same period in 2025.
Impairment charge on right-of-use assets of $7.5 million during the 13 week period as a result of management's decision to close 68 of its corporate locations in the coming months.
Net income attributable to owners decreased to $15.4 million, or $0.67 per diluted share compared to $57.3 million, or $2.49 per diluted share in Q2-25.
Cash flows provided by operating activities increased 25% or $8.7 million to $43.0 million compared the same period in 2025.
Long-term debt repayments of $15.7 million during the 13 week period with net repayments of $77.5 million since Q2-25.
Management Key Performance Indicators:
6 net store openings during the 13 week period.
Normalized adjusted EBITDA(1) of $60.2 million during the 13 week period, a decrease of $9.8 million compared to the same period in 2025.
Adjusted earnings per share(1) of $0.97 per diluted share compared to $1.17 in the same period in 2025.
Free cash flows net of lease payments(2) were $32.2 million or $1.41 per diluted share.
System sales(3) were $1.4 billion during the second quarter.
Same stores sales(3) decreased by 2.1% during the second quarter.
(1)This is a non-GAAP measure. Please refer to the “Non-GAAP Measures” section at the end of this press release.(2)See section “Definition of supplementary financial measures” found at the end of this press release.(3)See section “Definition of non-GAAP ratios” found in the Supplemental Information section for definition.
MONTREAL, July 10, 2026 (GLOBE NEWSWIRE) -- MTY Food Group Inc. (“MTY”, “MTY Group” or the “Company”) (TSX: MTY), one of the largest franchisors and operators of multiple restaurant concepts worldwide, reported today financial results for its 13 week period of 2026 ended May 31, 2026 and declares a quarterly dividend of 37.0¢ per share, payable on August 14, 2026 to shareholders registered in the Company’s records at the end of the business day on August 4, 2026.
“Our second quarter results reflected continued pressure on consumer spending and a challenging operating environment,” said Eric Lefebvre, Chief Executive Officer of MTY. “Despite these headwinds, our asset-light and diversified model continued to generate strong free cash flow from operations, and we remained focused on executing against our development pipeline, with positive store openings progressing in line with our plans and a strong slate of openings expected through the balance of the year.”
“We are also taking decisive action to improve the quality and profitability of our corporate store portfolio. Following a detailed store-by-store review, we have made the decision to close 68 underperforming corporate-owned locations over the next nine months. This is a decisive step to address underperforming assets and improve the overall quality of our corporate store portfolio. While this action will reduce our store count in the near term, we believe it will strengthen the business over the long term by reducing losses and allowing us to focus resources on our strongest opportunities. We remain committed to disciplined execution, strong cash generation and creating long-term value for shareholders.”
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Kura Sushi USA Announces Fiscal Third Quarter 2026 Financial Results
July 07, 2026 16:05 ET
IRVINE, Calif., July 07, 2026 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”) (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced financial results for the fiscal third quarter ended May 31, 2026.
Fiscal Third Quarter 2026 Highlights
Total sales were $85.9 million, compared to $74.0 million in the third quarter of 2025;
Comparable restaurant sales decreased 0.4% for the third quarter of 2026 as compared to the third quarter of 2025;
Operating loss was $39 thousand, compared to an operating loss of $162 thousand in the third quarter of 2025;
Net income was $0.4 million, or $0.03 per diluted share, compared to net income of $0.6 million, or $0.05 per diluted share, in the third quarter of 2025;
Restaurant-level operating profit* was $16.4 million, or 19.1% of sales;
Adjusted EBITDA* was $6.6 million; and
Seven new restaurants opened during the fiscal third quarter of 2026.
* Restaurant-level operating profit and Adjusted EBITDA are non-GAAP measures and are defined below under “Key Financial Definitions.” Please see the reconciliation of non-GAAP measures accompanying this release. See also “Non-GAAP Financial Measures” below.
Hajime Uba, President and Chief Executive Officer of Kura Sushi, stated, “During the fiscal third quarter, we were able to make significant progress towards our goals of sustainable margin improvement and returning to our historical 20% restaurant-level operating profit margins regardless of tariff relief. Despite our costs of goods sold as a percentage of sales being 200 basis points higher than last year due to tariffs, our operational discipline allowed us to more than offset this impact and improve our restaurant-level operating profit margin by 90 basis points over the prior year to 19.1%. We were also able to improve Adjusted EBITDA margins by 40 basis points, to 7.7%, and grew our Adjusted EBITDA by more than 20% over the prior year. Our ability to improve profitability in a challenging environment speaks to what we do best: responding rapidly to control what we can control.”
Review of Fiscal Third Quarter 2026 Financial Results
Total sales were $85.9 million compared to $74.0 million in the third quarter of 2025. Comparable restaurant sales decreased 0.4%, consisting of negative traffic of 5.1% and a price/mix of 4.7%, for the third quarter of 2026 as compared to the third quarter of 2025.
Food and beverage costs as a percentage of sales were 30.2% compared to 28.3% in the third quarter of 2025. The increase is primarily due to tariffs on imported ingredients, partially offset by increases in menu prices.
Labor and related costs as a percentage of sales were 30.6% compared to 33.1% in the third quarter of 2025. The decrease is primarily due to operational efficiencies and pricing, partially offset by low-single digit wage inflation.
Occupancy and related expenses were $6.7 million compared to $5.5 million in the third quarter of 2025. The increase is primarily due to fifteen new restaurants opening since the third quarter of 2025.
Other costs as a percentage of sales remained relatively consistent at 14.6% compared to 14.7% in the third quarter of 2025.
General and administrative expenses were $10.2 million compared to $8.7 million in the third quarter of 2025, representing an increase of $1.5 million. The increase was primarily due to compensation-related costs of $1.1 million, $0.2 million of travel expenses and $0.2 million of other net expenses. As a percentage of sales, general and administrative expenses remained relatively consistent at 11.9% as compared to 11.8% in the third quarter of 2025.
Operating loss was $39 thousand compared to an operating loss of $162 thousand in the third quarter of 2025.
Income tax expense was $49 thousand compared to income tax expense of $55 thousand in the third quarter of 2025.
Net income was $0.4 million, or $0.03 per diluted share, compared to net income of $0.6 million, or $0.05 per diluted share, in the third quarter of 2025.
Restaurant-level operating profit* was $16.4 million, or 19.1% of sales, compared to $13.5 million, or 18.2% of sales, in the third quarter of 2025.
Adjusted EBITDA* was $6.6 million compared to $5.4 million in the third quarter of 2025.
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Local Favorite Restaurants Acquires Cotton Patch Cafe
Jun 29, 2026 8:38 PM Eastern Daylight Time
SOUTHLAKE, Texas--(BUSINESS WIRE)--Cotton Patch Cafe (“Cotton Patch” or the “Company”), the beloved restaurant brand serving scratch-made Texas comfort food, today announced that Local Favorite Restaurants ("Local Favorite"), a Dallas, Texas-based platform for beloved local brands, has acquired the Company from Altamont Capital Partners ("Altamont"). Harrington Park Advisors served as the exclusive financial advisor to Cotton Patch. Terms of the transaction were not disclosed.
Founded in 1989 by Larry Marshall and Michael Patranella, Cotton Patch Cafe has served generations of guests scratch-made Texas comfort food including its signature chicken-fried steak, homestyle sides and fresh-baked rolls. The brand operates 46 restaurants across Texas and New Mexico and has built a loyal guest following based on scratch-made comfort food, genuine hospitality and compelling everyday value.
Under the leadership of Chief Executive Officer Brandon Coleman III, Cotton Patch has achieved best-in-class performance in the casual dining segment. By focusing on the guest experience, investing in its people and sharpening operational execution, including the introduction of its $9.99 Texas Value Meals, Cotton Patch has delivered six consecutive quarters of positive same-store sales and traffic growth. Under Coleman’s leadership, Cotton Patch has won multiple Dallas Morning News Best in DFW People’s Choice awards, including #1 Best Comfort Food, #1 Most Kid-Friendly and #1 Best Chain Restaurant in 2025.
"The last two years have been about doubling down on what makes Cotton Patch special: taking care of our people, delivering real value and quality to our guests and treating every guest like family with genuine, friendly service," said Coleman. "In Local Favorite Restaurants, we've found a partner who shares our values and brings the Texas-born Cotton Patch Cafe back to local Texas ownership. With the Local Favorite team behind us, we're ready to bring Cotton Patch to more communities and write the next chapter of this amazing brand's growth."
Cotton Patch is a natural fit alongside Local Favorite's portfolio of community-rooted Texas restaurant brands, which includes El Fenix Mexican Restaurant, Snuffer's Restaurant & Bar, Meso Maya, Taqueria La Ventana, Wok Star Chinese, Campuzano Mexican Food, Twisted Root Burger Company and Village Burger Bar.
"Cotton Patch Cafe is exactly the kind of brand we love – an authentic Texas concept with deep roots in the communities it serves and a team that puts its guests first," said Mike Karns, Founder and Free-Range Creative of Local Favorite Restaurants. "Brandon and his team have generated tremendous momentum at Cotton Patch, and we're excited to bring our operating and real estate experience to help the brand continue to grow."
"It has been a privilege to partner with Brandon and the entire Cotton Patch team," said Kevin Mason, Managing Director at Altamont Capital Partners. "What initially drew us to Cotton Patch was how the experience and brand resonated with guests and their communities. Local Favorite is the ideal partner to carry that momentum forward into the next chapter of the Company’s story."
About Cotton Patch Cafe:
Founded in Nacogdoches, Texas, in 1989, Cotton Patch Cafe has been serving up scratch-made comfort food and small-town spirit for more than 36 years. Based in Texas, the restaurant is a place where comfort classics like hand-breaded Chicken Fried Steak bring folks together around the table. With 46 locations across Texas and New Mexico, Cotton Patch Cafe stays true to its roots with hearty meals made from scratch every day and its $9.99 Texas Value Meals that deliver big flavor at an honest price. Deeply woven into the communities it serves, Cotton Patch Cafe proudly supports local causes and neighbors in need. In 2025, the brand was honored with three Gold awards in The Dallas Morning News’ Best in DFW Reader’s Choice Awards for Best Comfort Food, Best Kid-Friendly Restaurant and Best Chain Restaurant. For more information, visit www.cottonpatch.com.
About Altamont Capital Partners:
Founded in 2010, Altamont Capital Partners (“Altamont”) is a private equity firm focused on transforming and scaling lower-middle-market companies through significant business-building and value-creation resources. Altamont makes long-term, control investments and partners closely with management teams to execute proven and repeatable platform-building playbooks in sectors where the firm has deep experience and specialized knowledge. Altamont has invested in over 50 companies and currently manages over $4 billion of capital. Altamont is headquartered in Palo Alto, California, with additional offices in San Francisco and Austin, Texas. For more information, visit www.altamontcapital.com.
About Local Favorite Restaurants:
Local Favorite Restaurants owns and operates a distinctive collection of popular restaurant concepts across Texas – from legendary brands El Fenix Mexican Restaurant and Snuffer's Restaurant & Bar to original creations including Meso Maya, Taqueria La Ventana, Village Burger Bar, Twisted Root Burger Company, Campuzano Mexican Food and Wok Star Chinese. In addition to its more than 50 restaurant locations, Local Favorite owns and operates Sunrise Mexican Foods, which produces fresh-made chips, tortillas and other high-quality Mexican food products for retail and foodservice operators nationwide. Founded by Dallas native Mike Karns, Local Favorite is dedicated to being the local favorite in every community it serves. For more information, visit www.localfavorite.com.
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Mas Restaurant Group, Backed by Bessemer Investors, Sells Ohio Taco Bell Units to Southpaw
Jun 25, 2026, 07:00 ET
HOUSTON, June 25, 2026 /PRNewswire/ -- Mas Restaurant Group ("MRG" or "the Company"), a franchisee of Taco Bell restaurants in Houston, TX and Columbus, OH, announced today that it has sold its 43 Ohio locations to Southpaw, an owner and operator of more than 180 Taco Bell restaurants and Dunkin's in New York, New Jersey, Maryland, Kentucky, Georgia and Louisiana. MRG is backed by Bessemer Investors, LLC ("Bessemer"), a New York-based investment firm. Financial terms of the transaction were not disclosed.
MRG will continue to operate 36 Taco Bells in the Houston market alongside Bessemer, having sold 44 of its Texas locations earlier this month to Ghai Restaurant Group. Bessemer partnered with MRG in 2018, alongside CEO Chad Motsinger and CFO Ben Walsh, and in that time, MRG has advanced its organic growth plan while also pursuing strategic inorganic expansion, including the 2021 acquisition of CL Companies in Ohio, which broadened the company's footprint and strengthened its platform.
"We are extremely pleased with this latest successful transaction, which underscores the strength of MRG's operations and the robust footprint built in Ohio," said Andrew Mendelsohn, Managing Director at Bessemer. "Bessemer remains a dedicated partner to MRG, and we look forward to working together on future opportunities within the Taco Bell system as well as broader investments in the restaurant space."
"The tremendous value of these restaurants was built by the strength of our culture and the dedication of our team members," said Mr. Motsinger. "While we are passing the torch on these specific locations, our core mission of best-in-class customer service remains unchanged. The success we've seen across our Ohio locations is a perfect example of what happens when a team is fully backed by the right partners, and we are excited to keep building on that strong foundation."
Mr. Walsh added, "We're excited for the future. The restaurant space holds great opportunity, and I'm looking forward to continuing to work alongside Bessemer to write this next chapter of MRG's story."
Piper Sandler & Co and Unbridled Capital, LLC served as financial advisors to MRG, and Sidley Austin LLP served as legal counsel.
About Mas Restaurant GroupMas Restaurant Group, headquartered in Houston, Texas, is a franchisee of Taco Bell restaurants. For further information, please visit www.masrestaurantgroup.com.
About Bessemer InvestorsBessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer's partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.
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Darden Restaurants Reports Fiscal 2026 Fourth Quarter and Full Year Results; Increases Quarterly Dividend; Authorizes New $1.5 Billion Share Repurchase Program; and Provides Fiscal 2027 Outlook
Jun 25, 2026, 07:00 ET
ORLANDO, Fla., June 25, 2026 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the fourth quarter and fiscal year ended May 31, 2026, which included a 53rd week of operations compared to 52 weeks last year.
Fourth Quarter 2026 Financial Highlights
Total sales increased 13.7% to $3.72 billion driven by 7.6% in additional sales from an extra week of operations, a blended same-restaurant sales1 increase of 4.6%, and sales from 43 net new restaurants
Reported diluted net earnings per share from continuing operations were $3.54
Excluding $0.12 of costs primarily related to restaurant closures and associated impairments and the Chuy's integration, adjusted diluted net earnings per share from continuing operations were $3.66, an increase of 22.8%2
The extra week of operations contributed $0.25 to both reported and adjusted diluted net earnings per share from continuing operations
The Company repurchased $138 million3 of its outstanding common stock
Fiscal 2026 Financial Highlights
Total sales increased 9.4% to $13.21 billion driven by 2.1% in additional sales from an extra week of operations, a blended same-restaurant sales4 increase of 4.5%, and sales from 43 net new restaurants
1 Quarter same-restaurant sales is a 13-week metric and excludes the impact of Bahama Breeze as all locations are expected to be closed or converted to other brands (between Q3 fiscal 2026 and Q4 fiscal 2027).
2 See the "Non-GAAP Information" below for more details.
3 Inclusive of 1% excise tax incurred on net repurchases, resulting from the Inflation Reduction Act of 2022.
4 Annual same-restaurant sales is a 52-week metric and excludes the impact of Chuy's, as they were not owned and operated by Darden for a 16-month period prior to the beginning of Fiscal 2026, as well as Bahama Breeze as all locations are expected to be closed or converted to other brands (between Q3 fiscal 2026 and Q4 fiscal 2027).
"The fourth quarter was a strong finish to an excellent year, one in which we significantly outperformed the industry," said Darden President & CEO Rick Cardenas. "Our restaurant teams continued to execute at a high level and that consistent execution helped each of our brands deliver positive same-restaurant sales for the quarter.
"Our performance throughout the fiscal year reflects the strength of our brands, the discipline of our strategy, and the quality of our teams. With the right brands, strategy, and team in place, I am confident we are well positioned to continue growing the business and creating long-term shareholder value."
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Jack in the Box Inc. Completes $500 Million Securitized Financing Facility
Jun 23, 2026 4:00 PM Eastern Daylight Time
SAN DIEGO--(BUSINESS WIRE)--Jack in the Box Inc. (NASDAQ: JACK) (the “Company”) today announced that one of its indirect, limited-purpose subsidiaries (the “Master Issuer”) has completed the sale of $500 million of its Series 2026-1 7.624% Fixed Rate Senior Secured Notes, Class A-2 (the “2026 Notes”).
The net proceeds of the sale of the 2026 Notes are expected to be used to (i) repay in full the Company’s existing Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II and (ii) repay a portion of the Series 2022-1 3.445% Fixed Rate Senior Secured Notes, Class A-2-I.
“The successful completion of this refinancing demonstrates our commitment to maintaining a strong balance sheet and reducing debt as part of our ‘JACK on Track’ plan,” said Mark King, Executive Chairman and Interim Chief Executive Officer of Jack in the Box Inc. “We are pleased to have cleared our near-term maturities, with our next anticipated repayment date in 2029, supporting our focus on sustainable value creation.”
The Master Issuer also entered into a purchase agreement under which it will issue up to $150 million of its Series 2026-1 Variable Funding Senior Secured Notes, Class A-1 (the “Class A-1 Notes”), which will allow the Master Issuer to borrow amounts from time to time on a revolving basis. The Class A-1 Notes will replace the Company’s existing $150 million Series 2022-1 Variable Funding Senior Secured Notes, Class A-1.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the 2026 Notes or any other security. The 2026 Notes to be offered have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933.
About Jack in the Box Inc.
Jack in the Box Inc. (NASDAQ: JACK), founded and headquartered in San Diego, California, is a restaurant company that operates and franchises Jack in the Box®, one of the nation's largest hamburger chains with approximately 2,128 restaurants across 24 states, Guam and Mexico. For more information, including franchising opportunities, visit www.jackinthebox.com.
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