Ark Restaurants Q3 revenue falls as same-store sales decline
Ark Restaurants Q3 revenue falls as same-store sales decline
Overview
U.S. restaurant operator's fiscal Q3 revenue fell yr/yr as same-store sales declined
Company posted a narrower net loss for fiscal Q3 compared to prior year
Lease uncertainty at Bryant Park locations continues to weigh on New York City revenues
Outlook
Company says uncertainty over Bryant Park leases expected to continue to impact results
Company may be required to vacate Bryant Park locations on or about Oct 16, 2026
No referendum on casino gaming at Meadowlands in 2026; timing of future vote uncertain
Result Drivers
LAS VEGAS & ALABAMA STRENGTH - Co said operations at New York-New York Hotel and Casino in Las Vegas and its Alabama locations continued to show increased cash flow and strong revenue growth
BRYANT PARK LEASE UNCERTAINTY - Co said revenues for both catered events and a la carte at Bryant Park Grill and Bryant Park Café continue to suffer due to lease uncertainty
CHALLENGING MARKETS - Co said D.C. market remained difficult and Florida revenues were challenged by local economic climate
Company press release: ID:nBw6xYQxa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $40.88 mln |
|
Q3 Net Loss |
| $261,000 |
|
Q3 Adjusted EBITDA |
| $358,000 |
|
Q3 EBIT |
| -$141,000 |
|
Q3 EBITDA |
| $460,000 |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)