One Group Posts Second Straight Quarter of Traffic Gains
The restaurant operator's seven brands saw traffic rise 1.8% in the period ended Sept. 27 even as same-store sales slipped 0.4%.
Updated on Nov. 5, 2026 in Dining Out
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The One Group reported that traffic across its seven restaurant brands rose 1.8% in the period ended Sept. 27, marking its second straight quarter of positive traffic. Same-store sales declined 0.4% over the same period, and third-quarter overall revenue fell 1.8% to $177 million.
Why it matters
The results show traffic gains from value-driven offerings such as happy hour and lunch specials offsetting weaker sales overall. The company also cited East Coast storms in September as a drag that dampened business during the period.
Cost of goods held at 19.5%, an all-time low for the company, while restaurant operating profit rose 190 basis points to 13.2%. The company's STK brand runs $3, $6 and $9 daily happy hour specials and Benihana offers a $15.95 lunch special, both cited as traffic drivers.
The players
The One Group
A Denver-headquartered restaurant company that operates brands including Benihana, STK, Kona Grill and Ra Sushi.
Benihana
A Japanese teppanyaki steakhouse chain owned by The One Group that was among the brands showing same-store sales growth in the period.
STK
A steakhouse brand owned by The One Group known for its daily happy hour specials.
The details
The One Group uses a barbell pricing strategy that pairs value items with premium options across its brands. The company re-opened a former Kona Grill as a Benihana in Riverton, Utah, and another as an STK in Baltimore, while closing four Kona Grills and three Ra Sushi locations awaiting conversion to Benihana.
Timeline
Sept. 27, 2026: End of the quarter period in which traffic rose 1.8%.
September 2026: East Coast storms dampened same-store sales during the month.
2026: Two more Benihana Express locations are slated to open in Islamorada, Florida, and Canoga Park, California.
Industry Dynamics
The One Group's traffic gains rely on value-priced promotions such as STK's daily happy hour and Benihana's lunch special, a pattern in full-service dining where discounts are used to draw guests back. Its same-store sales decline shows that traffic growth has not yet translated into higher check averages across the company.
Diners can take advantage of STK's $3, $6 and $9 daily happy hour specials and Benihana's $15.95 lunch special for lower-priced visits. The planned Benihana Express openings in Florida and California may offer a smaller-format option for guests in those areas.
The takeaway
Value-focused offers like happy hours and lunch specials can drive visits even when overall sales are soft. Watching traffic trends alongside check averages gives a fuller picture of how a restaurant chain is performing.
Further reading
For more on restaurant chain performance, see Dining Out coverage across the country.
Source note: This article includes information reported by Nation's Restaurant News.
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