All Finance articles – Page 32
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Newsitsu: pipeline of big sites ‘reflects our confidence’
The healthy eating brand is increasingly bullish about opening prominent city centre sites, and is currently on-site in four or five, CFO Greg Thorp and CMO Neil Miller tell MCA
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NewsYoung’s sales up 26%
Outgoing chairman Stephen Goodyear, who addresses Youngs’ AGM for for the final time today, says the premium pub company’s strategy is delivering “industry leading results”
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Weekend PressHow the billionaire Issas bit off more than they could chew at Asda
Mohsin and Zuber Issa’s lofty ambitions for the supermarket chain have been stymied in a brutally competitive market. Now the pair are going their separate ways, The Sunday Times reports
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NewsCooks Coffee targets 300 stores
The 75-strong coffee shop operator behind Esquires hopes to reach the target within the next ten years, with nearly 28 planned this financial year
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NewsRed Oak acquires 19 pubs from Marston’s
The tied tenanted pub package is the third transaction between the two companies in the last 15 months
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Analysis & InsightOakNorth ‘cautiously optimistic’ about market
With inflation falling, wage increases holding up, and around 27m people seeing their national insurance contributions cut, this has put up to £450 back into consumers’ pockets, according to the sector lender
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NewsHeineken UK investing £39m in pub estate
The investment will go towards reopening 62 closed pubs, and improving around a quarter of Star’s 2,400 estate, worth on average £200k per pub
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InterviewsTGI Fridays deal ‘pretty huge win’ for both businesses
Speaking after an agreement was announced for Hostmore to acquire the US-based TGI Fridays in a reverse takeover, chairman Stephen Welker tells MCA how the business has not received due credit in the market for its turnaround
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NewsMajestic completes acquisition of Vagabond
The retailer and supplier has acquired the wine bar concept out of administration, saving nine bars from closure, though the Canary Wharf and Gatwick airport sites were not included as part of the deal
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NewsTom Kerridge: The mid market is very, very difficult
The chef and high-end pub operator said he would be “absolutely terrified” if his business was solely reliant on restaurants, due to inflation and cost pressures
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NewsSysco GB returns to profit for first time since 2018
The foodservice supplier, which is continuing to pursue acquisitions, posted UK revenues of £2.8bn in 2023
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NewsJust Eat grows profits in UK
Adjusted EBITDA in the UK & Ireland improved to €135m in 2023 (2022: €23m), driven by enhanced delivery efficiency and simplification
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InterviewsItsu plans 15-25 shops in 2024
The healthy eating brand is doubling down on London after seeing workers return to their offices more regularly, CFO Greg Thorp tells MCA
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NewsDomino’s to open 60 stores this year
The company is on track to deliver its FY23 guidance of underlying EBITDA in the range of £132m-£138m
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Analysis & InsightIs investment returning to the hospitality sector?
Nick Wallis, partner at Shelley Sandzer Corporate Finance, sees positive signs for the recovery of the sector in a flurry of recent M&A deals
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NewsHall & Woodhouse offloads Rio
Irn Bru maker A.G. Barr has aquired the tropical drink brand for £12.3m
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NewsDeliveroo Q3 sales up 7% to £297m in UKI
In the UK & Ireland, growth transaction value (GTV) was up 9%, while orders were up by 3%
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NewsTRG announces sale of Leisure business to Big Table Group
The Big Table Group will take over the division, principally consisting of the Frankie & Benny’s and Chiquito brands, in a deal expected to complete in October - with TRG paying a cash contribution of £7.5m as part of the transaction
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NewsHostmore CFO steps down
Alan Clark leaves following a difficult financial period for the TGI Fridays operator, where it posted losses of £91m and announced a series of cost reduction measures
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Interviewsitsu reports record sales in last 8-12 weeks
Directors Greg Thorpe and Neil Miller break down the sales resurgence at the food to go brand, regional profiles across the estate, and the next steps in its digital journey