Finance – Page 27
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NewsHostmore hails transitional year and turnaround of business
The TGI Fridays operator made cost savings and narrowed its losses in 2023, though like-for-like sales were down 7% in Q1 2024
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Analysis & InsightStonegate’s looming debt issue
The UK’s biggest pub and bar company has debts totalling £2.2bn, a situation exacerbated by high interest rates, the overall cost of debt for its complex tiered debt structure, and different parties not being able to agree a way forward in refinancing, analysts tell MCA
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NewsStarbucks sees sales dip
The coffee giant, which revealed plans earlier this year to open a further 100 stores in the UK, has reported a 4% decline in global comparable sales in Q2
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NewsCity Pub Group sees 20% uplift in like-for-likes
The group, which was acquired by Young’s in a deal completed earlier this year, reported total group revenue of £74.5m in 2023 and a ’fantastic’ sales performance over the festive period
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NewsYum! Brands trialling more than 40 AI initiatives
The group has reported a 1% decline in KFC UK sales but continues to see opportunity for more than 50,000 restaurants globally, as it looks to become the ’leading digital restaurant company’
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NewsThe Coffee House secures £4m investment
The Northwest-based coffee shop operator, which plans to scale to over 30 sites within the next 12 months, has secured an investment from AJ Bell founder Andy Bell
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NewsMowgli reports 15% growth in sales
The Nisha Katona-led Indian restaurant group grew sales to £30.9m, as it looks to continue expanding in the UK and go international further down the line
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NewsWhitbread: Hotel extensions ‘much more profitable’
CEO Dominic Paul discusses the strategic rationale behind the group’s plan to exit 126 branded restaurants and convert a further 112 into hotel rooms for its Premier Inn brand
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NewsRevolution Bars Group raises £12.5m in open offer
The pub and bar group has postponed a general meeting originally scheduled for tomorrow to give it more time to explore all strategic options, which also include exploring a formal sales process
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NewsHostmore temporarily suspends listing
The TGI Fridays operator has requested its ordinary shares to be suspended from the London Stock Exchange, pending publication of its annual report
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NewsMcDonald’s: ‘Headwinds more significant than anticipated’
The fast food giant expects ‘moderated’ top line growth this year, but continues to invest in its loyalty scheme, a new and more ‘satiating’ burger, as well as the rollout of beverage-led concept CosMc’s
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NewsRBI: Popeyes ‘still early’ in its journey
Restaurant Brands International also revealed its ‘Reclaim the Flame’ plan has driven strong results for Burger King
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NewsDomino’s sales down amid ‘softer delivery market’
The pizza group saw a decline in sales growth and orders in Q1 which it blamed on a tough comparitive and a slow January
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NewsHeart with Smart extends senior debt until 2027
The operator of Pizza Hut Restaurants and itsu franchises has also appointed Steve Packer, an existing member of the management team, as CFO, as Andy Platt steps into semi-retirement
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NewsWhitbread to exit 126 restaurants and convert 112 into hotel rooms
The Premier Inn operator will invest £500m in the plan, which will incur up to £100m in impairment charges and £25m in cash costs, and involve the loss of 1,500 job roles
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NewsMaven Leisure seeks to raise £2m via Growthdeck
The Ed Martin-led group is launching flagship Blackwood in Piccadilly Circus; a rooftop bar overlooking Trafalgar Square; a 14,000 sq ft site in Victoria; and has a further bar planned before the end of 2026
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NewsToca Social announces new investment
The immersive soccer and dining experience, which has plans to open in major cities across the UK, has received an investment from Norwegian Chess Grandmaster Magnus Carlsen
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NewsLoungers delivers record revenue
The all-day cafe, bar, and restaurant operator has reported £353.5m in revenue for the 53 weeks ended 21 April 2024, reflecting both strong like-for-like sales growth and the success of the openings programme
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NewsTortilla looks ahead to improved consumer outlook
The fast casual Mexican group reported a 14% increase in revenue at 3.6% increase in like-for-like sales in 2023, with consumer demand expected to further recover later this year
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NewsStrong third quarter for Caffè Nero
The coffeehouse chain reported sales growth of 10.5% year-on-year in the UK, with double-digit growth in delivery sales and even stronger growth in the Coffee at Home business