Kona Grill

Kona Grill Inc.
Public
Traded as NASDAQ: KONA
Founded 1998 (1998)
Headquarters Scottsdale, Arizona
Number of locations
 46[1] (2017)
Areas served
 United States, Puerto Rico, Mexico, United Arab Emirates
Key people
 Berke Bakay (President and CEO)
US$-22m[2] (2016)
Total assets US$108m[2] (2016)
Website konagrill.com

Kona Grill, Inc. is an upscale casual restaurant company based in Scottsdale, Arizona serving American cuisine, sushi, and cocktails.[3] The company owns and operates 46 restaurants in 23 U.S. states and Puerto Rico, as well as three international locations operating under franchise agreements.[4]

History

Kona Grill first opened its doors on September 18, 1998 at the Scottsdale Fashion Square. The restaurant’s predecessor was a sushi concept called Sushi on Shea that opened in Scottsdale in 1994. Restaurant founder, Michael McDermott, decided to create Kona Grill with more American-themed menu items. The new restaurant was made to have a modern ambiance. McDermott sold Sushi on Shea in 2002 to focus on expanding Kona Grill.[5]

Kona Grill went public on August 16, 2005 with an initial public offering of $11 per share on the NASDAQ. The company raised $28.8 million and grew its restaurant base to 9 locations by December 31, 2005.[6][7]

By 2014, Kona Grill had grown to 26 restaurants in 17 states. In 2014, it saw same-store sales growth in 14 out of its past 15 quarters with an increase of 6.2%, ranking the concept in the top quartile of the casual dining segment and marking it as one of the fastest growing restaurants that year. [8][9]

In August 2017, Kona opened its first international franchise location at Fashion Drive in Monterrey, Mexico. It opened a location at Al Seef in Dubai, UAE that November, and a location in Vaughan, Canada in December 2017.[10] [11] [12] [13] [14]

References

  1. ↑ Walters, Gwen (12 June 2017). "Now open: Kona Grill adds restaurant, test kitchen to Scottsdale Quarter". Arizona Central. Retrieved 19 August 2017.
  2. 1 2 Kona Grill Inc Annual Report 2016 (PDF)
  3. ↑ Goldstein, Robin S.; Herschkowitsch, Alexis (1 November 2007). "Fearless Critic Houston Restaurant Guide: Brutally Honest Undercover Chefs and Food Writers Rate More Than 400 Places to Eat". Fearless Critic Media. Retrieved 23 May 2018 – via Google Books.
  4. ↑ "Kona Grill makes adjustments to increase sales". SanTan Sun News. June 17, 2017. Retrieved July 14, 2017.
  5. ↑ "e10vk". www.wikinvest.com. Retrieved 23 May 2018.
  6. ↑ https://www.bizjournals.com/kansascity/stories/2005/06/06/daily6.html
  7. ↑ Gelsi, Steve. "Kona Grill prices IPO atop range". marketwatch.com. Retrieved 23 May 2018.
  8. ↑ "SEC FILING - Kona Grill Inc Form S-3". services.corporate-ir.net. Retrieved 23 May 2018.
  9. ↑ Friedman, Nickey. "Will Kona Grill Be the Fastest Growing Restaurant Chain of 2014?". fool.com. Retrieved 23 May 2018.
  10. ↑ "New Kona Grill for Canada - Franchise Advice - Global Franchise". www.globalfranchisemagazine.com. Retrieved 23 May 2018.
  11. ↑ Feder, Robert D. (23 May 2018). "Valuing Specific Assets in Divorce". Aspen Publishers Online. Retrieved 23 May 2018 – via Google Books.
  12. ↑ "Llega Kona Grill a Monterrey". www.elfinanciero.com.mx. Retrieved 23 May 2018.
  13. ↑ "Kona Grill". urbanologie.com. Retrieved 23 May 2018.
  14. ↑ "10-Q: KONA GRILL INC". marketwatch.com. Retrieved 23 May 2018.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.