Finance – Page 151
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NewsM&S suffers amid growth of food delivery and online retail
Marks & Spencer has cited the growth in home delivery of food and the migration of retail online as key factors threatening its market position, and leading to the decision to close 100 stores by 2020.
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NewsTRG lfls down 4.3% in year-to-date
The Restaurant Group (TRG) has reported like-for-like sales for the 20 weeks to 20 May down 4.3%, with total sales falling 3.1%.
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NewsShaftesbury estate ‘unaffected’ by external pressures
West End landlord Shaftesbury has reported “healthy trading “ across its estate, with the West End “largely unaffected” by the challenges facing the rest of the sector.
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Bold Street to launch Kickstarter campaign
Bold Street Coffee, the Liverpool-based Graffiti Spirits-backed speciality concept, is launching a Kickstarter campaign to finance a return to its original home.
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NewsNewRiver in talks to acquire Hawthorn Leisure
NewRiver is believed to be in advanced talks to acquire Hawthorn Leisure in a deal thought to be valued at more than £100m
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NewsJoule’s reshuffles board after year of consolidation
Joule’s – the brewer and operator of 41 pubs - has restructured its senior team as it refocuses on brewing for its own estate adding two pubs a year.
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NewsMarston’s “will continue to land bank sites”
Marston’s chief executive Ralph Findlay has told MCA the group will continue to land bank sites despite revising down its growth targets for next year.
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NewsJohnson: CVAs yet to impact wider market
Patisserie Holdings chairman Luke Johnson believes the recent flurry of CVAs and unit vacancies have yet to impact the wider market, but predicted “the odd bargain” over the next 12-24 months.
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SSP UK lfls 0.7% in H1
SSP Group has posted like for like revenue growth of 0.7% in the UK, in the six months to 31 March 2018.
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NewsC&C profits down 7% due to competitive pressure in Ireland
C&C Group has recorded adjusted EBITDA of €100m for the 12 months ended 28 February 2018, down 6.3% on the previous year.
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NewsEiG: Managed Expert exits; REIT status and regional growth
Following Ei Group’s H1 trading update, MCA spoke to chief executive Simon Townsend. He discussed what the group’s revised growth prospects mean for the long-term goal of converting to a REIT. He also spoke about the where growth would come from in the managed estate, timetabling eventual exits from the Managed Investment partnerships and the first new site for its joint venture with PubLove. On the tenanted and leased estate, he said that while the Midlands and the north of England had slipped into negative like-for-likes, the long-term recovery of these areas remains on track.
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NewsPatisserie Holdings H1 revenue up 9.1%
Patisserie Holdings saw revenue grow 9.1% to £60.5m in the six months to 31 March
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NewsEiG “maintaining growth momentum” in H1
Ei Group has reported like-for-like net income up 0.6% across its leased and tenanted estate for the six months to 31 March.
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Analyst corner: Peel Hunt on Marston’s
Peel Hunt’s Douglas Jack and Ivor Jones gives their predictions ahead of Marston’s interim results next week.
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Whitbread acknowledges Costa will be vulnerable to bids
It has emerged that Whitbread’s investor relations team admitted last month’s demerger announcement could trigger bids for Costa.
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NewsGaucho appoints KPMG to assess options for CAU
CAU, the casual dining brand from Gaucho, has appointed KPMG to assess its options, which is expected to lead to closures or conversions of the brand.
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News“Jury still out” on JDW pizza offer
JD Wetherspoon chairman Tim Martin has said the “jury is still out” on the group’s trial of a pizza offer, admitting he has his doubts as to whether it will be profitable.
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Analysts Corner: Peel Hunt on Ei Group
Peel Hunt’s Douglas Jack and Ivor Jones give their view on Ei Group’s future, ahead of its interim results announcement next week.
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Analysts Corner: Goodbody on TRG
In advance of The Restaurant Group’s (TRG) Q1 trading update later this month, Goodbody analyst Paul Ruddy predicts that profit growth is set to return to the menu – and that its Firejacks brand could help achieve it
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NewsMarket conditions impact Greggs
Greggs has this morning reported a 1.3% increase in like-for-like sales across its company-managed shop estate