All articles by Georgi Gyton – Page 35
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NewsNon-exec departure at The Restaurant Group
Alex Gersh will step down from his role as an independent non-executive director and chair of the audit committee in July
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NewsAdnams reports £1.2m operating loss for FY22
Despite significant pressure on its underlying cost base, the business reported a £7m rise in revenue to £64.2m, and a positive EBITDA of £2.7m for the period.
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NewsComptoir Group: ‘We have an extremely strong base from which to leverage growth’
The Lebanese restaurant group is close to completing on a site in greater London, and is in discussions with new franchise partners to open up access to other travel hub and leisure locations
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NewsHostmore sees further fall in like-for-likes
In a trading statement to accompany the group’s AGM today, the TGI Fridays operator reported a 3% decline in like-for-like sales for the 22 weeks to 4 June 2023 – down from -1% in the first 16 weeks.
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NewsCity Pub achieves 20% sales uplift; secures majority shareholding in Mosaic
The group reported a like-for-like sales increase of 13% for the first 23 weeks ended 4 June 2023, which it said would have been higher had it not been for the impact of the rail strikes.
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Analysis & InsightDemand stays strong in face of spending squeeze
Two in five consumers went out to eat or drink on at least a weekly basis in April 2023 – a figure unchanged from the prior month, CGA’s latest Cost of Living Pulse survey has found.
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Analysis & InsightBusiness confidence increased during Q1 2023
More than half of hospitality leaders feel optimistic about the prospects for their business over the next 12 months, according to the Business Confidence Survey from CGA and Fourth
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Analysis & InsightRetail channel driving growth in eating out market
The channel is forecast to grow by 5.3% this year to a value of £20bn as consumers switch to lower-ticket alternatives, Lumina Intelligence highlights in its new UK Eating Out Market Report
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InterviewsThe Alchemist: ‘We have plenty of runway to grow’
Buoyed by the performance of its London venues and the success of its new Berlin site, chief executive Simon Potts tells MCA there is significant scope to expland in the UK and internationally.
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Analysis & InsightM&A deals fall to seven-year low
The total value of mergers and acquisitions involving UK companies more than halved in the first five months of this year, to $89bn, according to the London Stock Exchange Group
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InterviewsItsu: The butterfly effect
Chief customer officer Neil Miller speaks to MCA about the brand’s digital progression, integrating loyalty across its restaurant and grocery businesses and the ‘silver bullet’ potential of its app
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NewsThe Alchemist to build presence in London
The bar and restaurant group has lined up two locations in the capital, near busy transport hubs, and is committed to locations that “will really sing” CEO Simon Potts tells MCA
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Analysis & InsightPubs and bars see bank holiday boost
Transactions in pubs and bars were up 27.3% over the late May bank holiday weekend, as consumers made the most of the warmer weather
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NewsKFC to roll out youth employability programme
The fast-food chain has set itself a goal that, by 2030, a third of new hires will be young people aged between 16 and 24 who face barriers to employment
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Analysis & InsightEating out market forecast to grow 4.6% in 2023
The total UK eating out market is forecast reach a value of £95.2bn this year, Lumina Intelligence’s new UK Eating Out Market Report has revealed.
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NewsFood inflation falls for first time in two years
Milk, butter and fruit have seen a reduction in inflation – which fell to 15.4% in May, from 15.7% in April, according to the latest figures British Retail Consortium and Nielsen
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NewsLow levels of optimism by hospitality leaders
Less than a third (29%) of hospitality leaders are optimistic about the future of their business over the next 12 months, due to high energy and food costs, a new survey has found.
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NewsNeat Burger valued at $100m
The London-based vegan fast-food chain, backed by Lewis Hamilton, has boosted its valuation in a new funding round aimed at fuelling US expansion
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NewsWhitbread exploring sale of restaurant brands
The FTSE100 business is understood to be exploring the potential sale of its Beefeater chain and its other restaurant brands in order to focus its efforts on its hotel chain Premier Inn.
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InterviewsInception Group: ‘The roaring 20s will come again’
Co-founder Charlie Gilkes speaks to MCA about the London bar group’s ideas for new concepts, opportunities to grow existing brands, and its mission to create memorable experiences