All MCA Insight articles in April 2023 – Page 3
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News
Loungers achieves ‘industry-leading’ like-for-likes
The group reported stronger like-for-like sales growth in H2 FY23 of 11.8%, and record revenue for the financial year of £285.3m
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News
Prezzo to close 46 restaurants
The latest restrcuture at the Italian causual dining chain will leave it with 97 restaurants, and more than 800 staff affected
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Interviews
Bundobust looks to continue expanding South
The Indian street food and craft beer concept is considering Nottingham, Cardiff, and Bristol for further expansion, founders Mayur Patel and Marko Husak tell MCA
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News
Brighton Pier Bars post revenues of £15.5m
The bars, which include Lola Lo, Le Fez and Coalition, achieved EBITDA of £3.5m in 2022
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News
Greene King: Pubs remain bedrock of society
The brewer and pub operator has launched a report to coincide with the King’s Coronation examining the role pubs play in local communities and how they have evolved since 1953
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Opinion
Peter Martin: Dial down the doom and gloom
Despite resilience and strong consumer demand, the eating out sector is enduring negative sentiment from investors, the media and supermarkets, writes Peter Martin
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Analysis & Insight
Inflation continues to outpace sales growth
Like-for-like sales across pub, bar, and restaurant groups were 1.4% ahead of last year but well below inflation, according to the Coffer CGA Business Tracker
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News
How sewage could provide the answer to the UK’s salad supply shortages
A British company believes sewage could be the solution as the rise in wholesale gas prices has impacted growers, Sky News reports
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News
British pubs expect £350m boost from coronation
Hospitality companies will benefit from the extra bank holiday on 8 May and an extension of alcohol licensing hours, Bloomberg reports
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News
UK economic activity picks up at swiftest rate in a year
Flash PMI rose to 53.9 in April, above analysts’ consensus forecasts of 52.5, The Financial Times reports
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Analysis & Insight
Soaring UK food prices worry households and policymakers
The highest food inflation in 45 years leaves consumers spending more to get less, The Financial Times reports in an analysis of the latest inflation figures
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News
Itsu hungry for growth as Justin King hops aboard
Julian Metcalfe and chairman Justin King plan to bring the Itsu offer to shelves the world over by 2025, the pair tell The Sunday Times
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Interviews
Jamie Oliver Restaurants aims for 200-site mark by 2027
The company is focused on international growth, while moving towards an experiential-led brand in the UK, group director Ed Loftus tells MCA
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Analysis & Insight
Consumer confidence sees month-on-month improvement
Consumer confidence is up six points to -30 in April 2023, compared to -36 in March, according to the GfK Consumer Confidence Index
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News
Lee Nixon steps down as Ole & Steen MD
Nixon steps down after nearly three years in the role, having overseen the doubling of the Danish bakery chain’s estate from 13 to 26 sites
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News
Fever-Tree wins King’s Award for Enterprise
The premium drinks mixer maker distributes to more than 90 countries worldwide, with teams in key regions including the US, Canada, France, Italy, Germany, Australia, New Zealand and Japan
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News
Pret debuts in India
The food-to-go brand has launched its first shop in Mumbai, the first of further openings planned for later this year
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News
Average price for a pint rises 11.9%
The average cost of a pint of draught lager soared by 11.9% in the year to March 2023, double the previous record high for a year-on-year increase
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News
Outlet closures drive beer volume decline at Heineken
The Dutch brewery’s premium portfolio grew in Q1, led by Birra Moretti and Beavertown
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News
Tesco debuts pub to mark Coronation
Pub chains have long spoken out against the tax burden on pubs vs supermarkets, which allows the latter to heavily subsidise prices