Summary by Moomoo AI
Yoshiharu Global Co. reported its financial performance for the quarter ended March 31, 2024, with revenues increasing by 13.4% to $2.8 million compared to $2.5 million in the same period last year. The rise in revenue was attributed to the opening of three new restaurants. Despite the revenue growth, the company experienced a net loss of $876,205, which was an improvement from the $1,144,489 net loss in the previous year. The net loss reduction was due to efforts in controlling general and administrative expenses. Food, beverage, and supply costs increased slightly by 2.5%, while labor costs rose by 13.0% due to the new restaurant openings. Rent and utilities expenses also saw an increase of 6.7%. The company's depreciation and amortization expenses went up by 33.1% due to the new restaurants...Show More
