Kura Sushi USA’s 17% Nasdaq slide shows tougher dining environment

Markets

CFO departure, Iran war, inflation dim prospects for company’s return to profitability

Fuel costs for Asia’s fishing industry have more than doubled since the Strait of Hormuz closed, threatening fish supplies and the profits of sushi restaurants. © Reuters

TOKYO — Kura Sushi USA’s 17% drop on New York’s Nasdaq market on Wednesday came despite a sharp market rally spurred by the surprise U.S.-Iran ceasefire, highlighting the pressures facing sushi restaurant operators amid geopolitical uncertainty, higher fuel costs and softening consumer sentiment.