Pubs, Bars & Clubs News – Page 97
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NewsM&B: JVs, virtual brands and surge pricing
Following yesterday’s full-year results announcement, MCA talks to Mitchells & Butlers chief executive Phil Urban. He discusses performance across its suite of brands, and why he sees joint ventures as the smartest form of M&A. He also says developing a virtual brand is on the company’s road map, talks about the rollout of order at table technology and the company’s work on flexing price during busy periods.
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NewsEclectic to unveil experiential-focussed revamp of Fez
The Luke Johnson-chaired Eclectic Bars, is to reluanch its Fez venue in Putney under an evolved, experiential-focussed model, Le Fez.
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NewsHawthorn model could be rolled out across NewRiver’s retail portfolio
Mark Davies, the executive chairman of the 616-strong Hawthorn Leisure pub company, has told MCA that its management skills are already being integrated into the shopping centre portfolio of parent company NewRiver.
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NewsFindlay: ‘It will be tough to match lfls growth in Taverns estate next summer'
Marston’s chief executive Ralph Findlay has told MCA it would be ‘tough’ for its Taverns estate to match the like-for-like sales growth seen within its managed and franchised pubs this year (+3.8%, in 2019.
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NewsM&B FY lfls up 1.3%
Mitchells & Butlers has this morning announced like-for-like sales the year to 29 September up 1.3%, with a 2.2% rise in the past seven weeks.
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NewsEiG: 2020 is ‘just a line in the sand’
Ei Group chief executive Simon Townsend has told MCA that 2020 is merely a ‘line in the sand’ in terms of its strategy and he expects the managed pub estate to continue growing at up to 125 pubs a year well into the next decade.
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NewsMarston’s reports ‘solid’ start to FY19
Marston’s has reported a ‘solid’ performance in the seven weeks since 29 September, with growth in pub like-for-like sales (lfls) and own and licensed beer volumes.
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NewsNewRiver sees £1.7m synergies from Hawthorn in H1
NewRiver says it has unlocked £1.7m of the expected £3m synergies from the acquisition of Hawthorn Leisure.
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NewsEiG managed lfls up 7.1%; ‘considerable interest’ in commercial property arm
Ei Group (EiG) has reported like-for-like (lfl) sales up 7.1% in its 308-strong managed division for the year to 30 September.
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NewsOakman Inns set to appoint advisors
Oakman Inns is set to appoint advisors at the start of next year as it looks to take a flexible approach to any eventual exit for its investors, MCA understands.
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NewsDeltic to expand Bar & Beyond to Kingston
The Deltic Group is to expand its Bar & Beyond concept to Kingston – the first opening for the brand this year.
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Sipsmith to open dedicated gin shop
Sipsmith Gin has signed a deal with the Crown Estate to establish the first new dedicated gin shop in London for 200 years at Princes Arcade in St James’s.
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NewsWest End pub let to Shep Neame sells for £3.75m
The freehold investment of The Cheshire Cheese pub in London’s West End has been sold to a pension fund investor for £3.75m.
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Simmons Bars secures site in Eastcheap
Simmons Bars has lined up a new site in Eastcheap, in the City, for an opening early next year, MCA has learnt.
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NewsScottish brewer and operator Six Degrees North lines up fifth site
Scottish brewery and taproom operator Six Degrees North is due to open its fifth site in Dundee next month.
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NewsYoung’s H1 managed lfls up 5.2%
Young’s has reported a 5.2% rise in like-for-like sales (lfls) in its managed estate for the 26 weeks to 1 October, with total revenue up 8.8% to £156.8m along with a 4.7% increase in adjusted EBITDA to a half-year record of £40.4m.
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NewsDavy’s to counter pressure on margins with additional investment
Davy’s is to continue to invest in its wine bar and restaurant business next year as pressure on margins increases, MCA has learnt. It follows an estimated £1.5m in capex for 2018, with £750k earmarked for 2019.
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NewsTim Hortons to focus on company-managed sites for expansion
Tim Hortons is to focus on expanding through company-managed stores, with the support of sub-franchisees, MCA has learnt.
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NewsThwaites attacks 'politically induced' trade challenges
Thwaites, the Lancashire-based brewer and pub operator, has reported half year like for like turnover growth of 5% in its tenanted pubs, following the hot summer and World Cup run.
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NewsRullo's to open pub in Hackney Wick
Rullo’s, the two-strong Italian restaurant group, is launching a pub, Müller & Briggs, in Hackney Wick.