All news articles – Page 1628
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NewsTax Parity Day raises sales and awareness
Last Wednesday’s Tax Parity Day, which saw up to 15,000 outlets take part in a national day of action as part of the campaign to reduce VAT for the sector to 5%, helped increase sales for participating operators by up to 23%, while also raising awareness of the disparity between the zero rate for food in supermarkets and the 20% VAT rate for pubs and restaurants
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GRS Pubs grows underlying profits 14%
GRS Pubs, the tenanted pub group formerly owned by London Town, saw underlying profits rise 14% to £448,000 in the year to 30 December as it continued to trim its estate
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NewsFY EBITDA climbs 11% at Pho
Pho, the the Isis Equity Partners-backed Vietnamese fast-casual concept, has reported an 11% increase in EBITDA for the year to the 24 February, as turnover climbed 26% to £8.2m
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FY EBITDA falls at Itsu
Itsu, the chain founded by Julian Metcalfe and led by Gerard Loughran, reported a drop in EBITDA for the year to 3 January 2013 to £3.26m, against £3.6m in 2011/2012, as turnover climbed 22% to £45.2m on the back of eight new site openings
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NewsWeak M&B performance impacts M&C20
The 1% decline in Q4 like-for-like sales reported by Mitchells & Butlers (M&B) this week impacted the M&C20 Index, which fell by 1.3% to 1,148.32, to marginally underperform the FTSE all share, which declined by 0.9% to 1,014.49
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San Carlo confirmed for Manchester Selfridges
San Carlo, the family-run Italian restaurant chain, has confirmed that it will replace Aubaine, the French restaurant and patisserie concept, at the Selfridges in Manchester
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Leeds Brewery to ramp up expansion
Leeds Brewery is looking to expand its pub estate more rapidly over the coming years, director Sam Moss told MA300 delegates
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NewsTurtle Bay secures sixth site
Turtle Bay, the five-strong Caribbean restaurant chain led by Aj Jaya-Wickrema, has secured its sixth site in Leamington Spa for an opening next year
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French downgrades M&B EPS forecast
Leading analyst Simon French has downgraded his earnings-per-share forecast for Mitchells & Butlers (M&B) following a “disappointing” trading update
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French: Market likely to remain sceptical on Domino’s
A leading analyst has said that until there is greater certainty around its operation in Germany the market is likely to remain sceptical as to Domino Pizza Group’s long-term potentia
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M&B seeks learning and development director
Mitchells & Butlers (M&B) is seeking a new learning and development director, following the departure of Kadisha Lewis-Roberts, who is relocating to Switzerland
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Lucky Voice MD: technology transforming business
Lucky Voice managing director Nick Thistleton urged MA300 delegates to put technology at the heart of their operations aftersharing the story of how tech transformed the karaoke bar business
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NewsBacon sets out expansion plans
Tim Bacon has set out his expansion plans for the Living Ventures-led Gusto brand and the recently renamed New World Trading Company, his pub-led venture backed by the Hill Capital Partners Food & Beverage Fund
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Bacon: landlord relationships are key
Good relationships with landlords are crucial for operators to keep ahead, Living Ventures chief executive Tim Bacon told the MA300 conference in Leeds
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Analyst corner
Jamie Rollo, analyst at Goldman Sachs, looks ahead to the upcoming Q4 update from Spirit Pub Company (22 October).
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NewsHall: capex 'not just about the pounds'
Orchid Group chief executive Rufus Hall has stressed the importance of people strategies when making capex investments, saying it’s “not just about pounds”
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Lambeth wants 'zoned' opening hours
Lambeth Council in London wants to introduce a zoning system for opening hours and recommends stringent new regulations around licensee and staff training for licensed premises in the borough
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Dowling-led group to launch Far Rockaway
Madison, the new group set up by Inc Group founder Frank Dowling, will open new venture Far Rockaway on the former Elbow Rooms site in Shoreditch this month
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New Italian health food concept secures Soho site
La Polenteria, a new Italian health food concept, has secured its first site in London’s Soho
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Rollo predicts 10% EPS growth for Whitbread
Leading analyst Jamie Rollo predicts Whitbread will see its earnings per share grow 10% to 89.6p at its H1 results on 22 October, and says the shares need forecast upgrades