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ONE Group (STKS) Expands Footprint With Kona Grill's Utah Debut
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The ONE Group Hospitality, Inc.’s (STKS - Free Report) restaurant brand, Kona Grill, recently debuted in Riverton, UT. This new opening aligns with the company’s expansion initiatives and long-term domestic growth plans.
The newly opened Kona Grill restaurant is housed in the Mountain View Village shopping center area of Riverton, offering the company’s signature Vibe Dining experience. The restaurant’s elevated menu offerings consist of brunch, lunch, happy hour and dinner. It also offers take-out & delivery options during operational hours.
ONE Group is optimistic about its debut in Utah as it aligns with its footprint expansion strategy in the Mountain West Region.
ONE Group’s Growth Strategies
ONE Group’s growth plans include the expansion initiatives that it is undertaking to establish platforms for scalable and long-term revenue and profit growth. In January 2023, the company opened a newly designed Kona Grill restaurant in Columbus, OH. The Riverton Kona Grill debut is the second restaurant opening of this brand aligning with the company’s long-term growth strategy.
Furthermore, in February 2023, ONE Group opened a new rooftop bar in its existing STK restaurant in Scottsdale, AZ, marking the fourth domestic STK rooftop addition in its portfolio. As of first-quarter 2023, the company anticipates its addressable market to have at least 400 restaurants with 200 global STK restaurants and 200 domestic Kona Grills.
ONE Group engages in long-term domestic growth plans through strong operational execution, culinary innovation and implementing its Vibe Dining concept. The Vibe Dining is a collective concept that incorporates high-quality service, ambiance, high energy and cuisine into one impeccable experience to its customers to support the company’s vision of becoming a global market leader in the hospitality industry.
Image Source: Zacks Investment Research
Shares of STKS have gained 15.5% in the year-to-date period, outperforming the Zacks Retail - Restaurants industry’s 11.4% growth.
Zacks Rank & Key Picks
ONE Group currently carries a Zacks Rank #3 (Hold).
BJRI has a trailing four-quarter earnings surprise of 93%, on average. Shares of the company have gained 49% in the past year. The Zacks Consensus Estimate for BJRI’s 2023 sales and earnings per share (EPS) suggests growth of 5.5% and 317.7%, respectively, from the year-ago period’s levels.
Shake Shack sports a Zacks Rank of 1. SHAK has a trailing four-quarter earnings surprise of 58.6%, on average. Shares of the company have surged 70.5% in the past year.
The Zacks Consensus Estimate for SHAK’s 2023 sales and EPS suggests growth of 21.5% and 148.4%, respectively, from the year-ago period’s levels.
Dave & Buster's Entertainment currently sports a Zacks Rank of 1. PLAY has a trailing four-quarter earnings surprise of 6.8%, on average. Shares of the company have gained 27.7% in the past year.
The consensus estimates for PLAY’s fiscal 2023 sales and EPS suggests growth of 16.9% and 28%, respectively, from the year-ago period’s levels.
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ONE Group (STKS) Expands Footprint With Kona Grill's Utah Debut
The ONE Group Hospitality, Inc.’s (STKS - Free Report) restaurant brand, Kona Grill, recently debuted in Riverton, UT. This new opening aligns with the company’s expansion initiatives and long-term domestic growth plans.
The newly opened Kona Grill restaurant is housed in the Mountain View Village shopping center area of Riverton, offering the company’s signature Vibe Dining experience. The restaurant’s elevated menu offerings consist of brunch, lunch, happy hour and dinner. It also offers take-out & delivery options during operational hours.
ONE Group is optimistic about its debut in Utah as it aligns with its footprint expansion strategy in the Mountain West Region.
ONE Group’s Growth Strategies
ONE Group’s growth plans include the expansion initiatives that it is undertaking to establish platforms for scalable and long-term revenue and profit growth. In January 2023, the company opened a newly designed Kona Grill restaurant in Columbus, OH. The Riverton Kona Grill debut is the second restaurant opening of this brand aligning with the company’s long-term growth strategy.
Furthermore, in February 2023, ONE Group opened a new rooftop bar in its existing STK restaurant in Scottsdale, AZ, marking the fourth domestic STK rooftop addition in its portfolio. As of first-quarter 2023, the company anticipates its addressable market to have at least 400 restaurants with 200 global STK restaurants and 200 domestic Kona Grills.
ONE Group engages in long-term domestic growth plans through strong operational execution, culinary innovation and implementing its Vibe Dining concept. The Vibe Dining is a collective concept that incorporates high-quality service, ambiance, high energy and cuisine into one impeccable experience to its customers to support the company’s vision of becoming a global market leader in the hospitality industry.
Image Source: Zacks Investment Research
Shares of STKS have gained 15.5% in the year-to-date period, outperforming the Zacks Retail - Restaurants industry’s 11.4% growth.
Zacks Rank & Key Picks
ONE Group currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Retail-Wholesale sector are BJ's Restaurants, Inc. (BJRI - Free Report) , Shake Shack Inc. (SHAK - Free Report) and Dave & Buster's Entertainment, Inc. (PLAY - Free Report) .
BJ's Restaurants currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BJRI has a trailing four-quarter earnings surprise of 93%, on average. Shares of the company have gained 49% in the past year. The Zacks Consensus Estimate for BJRI’s 2023 sales and earnings per share (EPS) suggests growth of 5.5% and 317.7%, respectively, from the year-ago period’s levels.
Shake Shack sports a Zacks Rank of 1. SHAK has a trailing four-quarter earnings surprise of 58.6%, on average. Shares of the company have surged 70.5% in the past year.
The Zacks Consensus Estimate for SHAK’s 2023 sales and EPS suggests growth of 21.5% and 148.4%, respectively, from the year-ago period’s levels.
Dave & Buster's Entertainment currently sports a Zacks Rank of 1. PLAY has a trailing four-quarter earnings surprise of 6.8%, on average. Shares of the company have gained 27.7% in the past year.
The consensus estimates for PLAY’s fiscal 2023 sales and EPS suggests growth of 16.9% and 28%, respectively, from the year-ago period’s levels.