All MCA Insight articles in January 2020
View all stories from this issue.
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InterviewsSteve Holmes: ‘We have scenarios coming out of our ears’
The inability to effectively plan for the long-term is an issue that has blighted restaurant operators during the pandemic, but an Easter reopening makes the most sense to work to, says Steve Holmes, CEO at Azzurri Group.
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InterviewsNick Collins: ‘Opportunities won’t sway our strategy’
The inevitable increase in high-footfall site opportunities following the pandemic will not change Loungers’ established property strategy, CEO Nick Collins has said.
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NewsDemand for rural and coastal pubs on the up
Investor appetite for pubs remains healthy with many buyers undeterred by the impact of the pandemic, according to Christie & Co’s Outlook 2021 report.
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InterviewsZoe Bowley: ‘We are fully energised to seize opportunities’
Following what can only be described as a transformational 2020, Pizza Express is primed and ready for the next stage of its growth, according to MD Zoe Bowley.
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InterviewsWill Beckett: ‘We have tried to do optimistic realism’
Hawksmoor CEO Will Becket has described a decision to lay of staff as the pandemic worsened as “the worst day of my professional life”.
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NewsFreehold pub values down 35%
Average freehold pub prices have fallen by 34.7% post-coronavirus, according to Fleurets’ Survey of Pub Prices 2020.
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NewsCosmo secures three new sites
Cosmo, the all-you-can eat buffet concept, has secured three new sites, MCA understands.
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NewsHoughton consulting with Vita Mojo and City Pantry
Chilango co-founder Dan Houghton is working with Vita Mojo and City Pantry on a consultant basis after stepping down from co-leading the burrito brand.
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NewsDirty Bones launches Dirty Vegan at Westfield London
Dirty Bones, the NYC comfort food concept known for its meat-centric menu, has launched a spin-off vegan restaurant.
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NewsCook made CEO of All Star Lanes
All Star Lanes managing director Graham Cook has been promoted to CEO of the boutique bowling concept.
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News
Searcys festive sales up 2.5%
Restaurant operator and events caterer Searcys has reported festive sales up 2.5% year on year.
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NewsCôte proposes industry-wide order-and-pay solution
Côte CFO Strahan Wilson proposed an industry-wide open-access solution to the problems faced by in-restaurant payment and ordering apps at MCA’s HOSTECH event this week.
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NewsBababoom: ‘People aren’t rebelling against chains, they’re rebelling against bad value’
Having established two profitable restaurants, and raised close to a million pounds in crowdfunded investment, Eve Bugler is ready to take Bababoom to a prime site London.
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NewsHickory’s to accelerate roll out as sales grow
Hickory’s Smokehouse has reported a substantial sales uplift for the year ended 30 April 2019.
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NewsThe rising tide of responsible consumption
Having spent at least part of my formative years in the 1980s, I remember being struck by one descriptor of this largely buoyant and aspirational period as a time of ‘conspicuous consumption’. Rising materialism and displays of wealth were very much in vogue for those who could afford to flaunt it. Fast forwarding to the 2020s, however, and things are very different. A strong early tip for a decade defining label must be ‘responsible consumption’. This has of course, many guises, including rising plant-based diets, reducing alcohol intakes and adopting more sustainable behaviours. All of these are being tracked within MCA’s Hot Topics consumer research programme.
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NewsFullers hails “Year of Change”
Fullers has said sales were up 4.3% for the six weeks over Christmas and New Year, and 2.5% for the 42 weeks to 18 January 2020. Food, drink and accommodation all delivered like for like growth. However, tenanted like for like profits were down 3%.
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NewsYumpingo raises $10m
Yumpingo has raised $10m in a Series A investment with London-based VC Smedvig Capital. At the same time, Keith Taylor, CFO of Equinix, and Mike Ryan, CEO of Bullet Point Network, and previously partner and head of global equity products at Goldman Sachs, will join the Yumpingo board.
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NewsEverards sales up 3.5%
Everards has reported sales are up 3.5% on last year, for the year ending 30 September 2019. It also said group EBITDA of £5.9m was 1% ahead of the previous year reflecting “good trading performance and a reduction in overheads”. It also said pre-tax profits and non-recurring items of £2.1m was behind the prior year “primarily as a result of an increase in interest charges associated with the Group’s refinancing”.
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NewsMcDonald’s plans 60 new openings in 2020
McDonald’s UK CEO Paul Pomroy has committed to investing £1 billion in McDonald’s UK estate over the next three years, including opening 60 new restaurants in 2020. Speaking after global sales rose 5.9%, Pomroy said 2019 was a “successful year for the UK and Ireland business, and it is testament to our people and franchisees that we have delivered continued strong growth during a tough time for the retail sector. In 2020 we remain committed to continuing investment in the areas driving our growth - our supply chain, our people and our restaurant experience, so over the next three years £1 billion will be invested to ensure we can continue to focus on what matters most - customers, food, value, service and convenience.