All articles by Shwetali Sapte – Page 78
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NewsPret sees opportunity for up to 3,000 US stores
The company aims to reach the 300-site mark in the US by 2028 as it accelerates expansion, according to Pret US president Jorie Bruffett
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NewsJason Cotta steps down as Ole & Steen CEO
Jesper Dixen, chief commercial officer for Denmark-based Lagkagehuset, will serve as interim group CEO as Cotta steps down after four years with the Danish bakery chain
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Analysis & InsightFurther pub closures forecast for 2024
A combination of energy costs, business rates, and tax pressures will see another 750 pub closures in the first half of 2024, according to Frontier Economics
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InterviewsPunch Pubs confident in internal expectations
The 1,248-strong pub operator expects cash flow, profitability, and EBITDA to grow going into FY24, according to CEO Clive Chesser and CFO Steve Dando
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Analysis & InsightLoungers: opportunity to revisit valuation
Analyst Berenberg has increased its price target to 360p, citing recent takeover announcements in the sector leading to greater focus on the low valuations many leisure names have been trading on
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Analysis & InsightNight time economy businesses vanishing at ‘alarming’ pace
The night time economy has seen a 5% decline in independent businesses between 2022 and 2023, according to figures from CGA
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NewsPret expands presence in Germany
The food-to-go chain is to open five new shops in Berlin, with Germany being a key market in its plans to double the size of its business by 2026
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NewsPunch Pubs reports strong full year results
The 1,248-strong pub operator reported like-for-like growth across divisions, with total revenue of £313.5m for FY23, up from £284.4m in FY22
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Analysis & InsightTRG/PizzaExpress combination offers ‘compelling logic’
MCA asks industry commentators about a potential bid by PizzaExpress owner Wheel Topco for The Restaurant Group, a deal that could not only see cost synergies but combine two of the high street’s biggest brands
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Analysis & InsightWarm September prompts month-on-month delivery decline
While delivery fell back, restaurants, QSR, and retail all benefited from increased footfall, according to Lumina Intelligence
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NewsWimpy sees improved sales
Famous Brands has announced interim results for H1 FY24, with an 18% year-on-year rise in revenue for burger chain Wimpy
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NewsBrewDog launches half-price offering for under-25s
The Under-25 Club offers 18-25 year olds a 50% discount across beer, cocktails, spirits, food, and BrewDog hotel stays
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NewsVapiano appoints director of operations
Steve Collard, who joins from Gourmet Burger Kitchen, has been appointed director of operations (UK) for the Germany-based Italian cuisine chain
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NewsNew people & culture director at Arc Inspirations
Arc Inspirations has appointed Lee Woolley as people & culture director, supporting the premium bar operator’s commitment to driving a people-first culture
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NewsCooks Coffee appoints administrators for Triple Two business
The operator has appointed RSM UK Restructuring Advisory LLP, citing a loss of momentum for its Triple Two coffee brand
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Analysis & InsightThe pizza market in 2023: ‘It’s too crowded’
MCA explores the up-and-coming brands looking to take on the dominant pizza chains, the potential for new innovation to dethrone Neapolitan as the leading trendsetter, and the thoughts of former Fulham Shore boss David Page on how the landscape has changed
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NewsRed Oak acquires 17 pubs from St Austell
The 212-strong pub operator has announced it will complete the purchase from St Austell Brewery’s leased and tenanted estate next week, including sites across Cornwall, Devon, and Somerset
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InterviewsBoxpark: ‘We’re investing in the long term’
Boxpark is looking at all major cities in the UK as it continues its expansion, with the goal of opening two to three sites per year between its brands, CEO Simon Champion tells MCA
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NewsPret accelerates US expansion with Dallas International
The joint venture with the existing franchisee is part of a plan to triple the size of its US business over the next five years
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NewsCaffè Nero reports strong first quarter
Q1 sales were 13.5% higher year-on-year in the UK and 19% at group level between June and August, driving a strong start to the financial year