Ark Restaurants Reports First Quarter 2026 Financial Results

Company cites ongoing dispute over Bryant Park Grill & Café lease as impacting performance

Published on Feb. 9, 2026

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Ark Restaurants Corp. (NASDAQ:ARKR) reported financial results for the first quarter ended December 27, 2025. The company's EBITDA, as adjusted, for the quarter was $1,529,000, up from $1,378,000 in the prior year period. However, net income attributable to Ark Restaurants Corp. was $896,000 or $0.25 per share, down from $3,164,000 or $0.88 per share a year earlier. The company cited ongoing uncertainty over the lease for its Bryant Park Grill & Café location as having a material adverse effect on its business.

Why it matters

Ark Restaurants is a publicly traded company that operates a portfolio of restaurants and food service locations across the United States. The company's financial performance and outlook are closely watched by investors as an indicator of broader trends in the restaurant industry. The dispute over the Bryant Park Grill & Café lease is a significant issue that is impacting the company's results and could have longer-term implications if the matter is not resolved favorably.

The details

Ark Restaurants reported that total revenues for the quarter were $40,749,000, down from $44,988,000 a year earlier. Excluding revenues from a closed Tampa food court location, revenues were $43,990,000 in the prior year period. Company-wide same-store sales decreased 7.3% in the quarter, which the company attributed primarily to declines in catering and a la carte revenue at the Bryant Park Grill as well as lower revenues at its America property in Las Vegas due to renovations. The company's EBITDA, as adjusted, increased to $1,529,000 from $1,378,000 a year earlier, while net income attributable to Ark Restaurants Corp. declined to $896,000 from $3,164,000.

  • Ark Restaurants' lease agreements for the Bryant Park Grill & Café and The Porch at Bryant Park expired in April 2025 and March 2025, respectively.
  • In the second quarter of 2025, the landlord publicly announced the selection of a new operator for both locations, but the required approvals have not been obtained and no new lease has become effective.

The players

Ark Restaurants Corp.

A publicly traded company that owns and operates restaurants and food service locations across the United States.

Michael Weinstein

Chairman and Chief Executive Officer of Ark Restaurants Corp.

New Meadowlands Racetrack LLC (NMR)

A company that Ark Restaurants has an investment in and receivable from, and which is pursuing a full casino license in New Jersey.

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What they’re saying

“The current quarter Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA"), as adjusted, of $1,529,000, increased approximately $150,000 as compared to EBITDA, as adjusted, of $1,378,000 in the prior year comparable quarter and Net income attributable to Ark Restaurants Corp. for the current quarter was $896,000 or $0.25 per basic and diluted share compared to net income of $3,164,000 or $0.88 per basic and diluted share, in the prior year comparable quarter.”

— Michael Weinstein, Chairman and Chief Executive Officer (Ark Restaurants Corp.)

What’s next

The judge in the case over the Bryant Park Grill & Café lease will decide on Tuesday whether or not to allow the current operator to remain in the location during the ongoing legal proceedings.

The takeaway

Ark Restaurants' financial performance continues to be impacted by the uncertainty surrounding the Bryant Park Grill & Café lease, which represents a significant portion of the company's revenues. The outcome of the legal dispute over this location will be crucial in determining the company's near-term outlook.