All The Restaurant Group (TRG) articles – Page 7
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NewsTRG predicts 2020 sales decline of 25%
The Restaurant Group has predicted an overall decline in like-for-like sales of 25% in FY2020 as it has experienced an “increasing and material impact” of COVID-19 in recent weeks.
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NewsWagamama “has transformed” The Restaurant Group says Hornby
Buying Wagamama has had a transformational effect on the fortunes of The Restaurant Group, said the business as it released its results for the 52 weeks to 29 December 2019. It said total sales were up 56.4% from £686m to £1,073.1m, while adjusted pre-tax profits were £74.5m. It recorded an exceptional pre-tax charge of £111.8m due to “impairment” in its leisure arm, primarily made up of Frankie and Benny’s and Chiquito, leaving a statutory loss before tax of £37.3m.
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NewsMore closures expected for TRG leisure brands
The Restaurant Group is expected to announce further closures of Frankie & Benny’s and Chiquito this week, the Mail on Sunday reports.
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Analysis & InsightGoodbody on TRG
Restaurant Group will report a Q4 trading update in late January. At this point last year RTN gave full year LFL’s for the group and total sales. We forecast FY LFL sales growth of -0.8% in the Legacy business with LFL sales growth of 8.8% for Wagamama UK (implying a group FY LFL of just above 2%). As a reminder group LFL growth was +3.7% in the first 34 weeks.
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NewsTRG appoints Chambers as leisure brands CEO
The Restaurant Group has appointed Mark Chambers to the new position of CEO of its leisure brands.
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NewsAnalysts’ verdict: JP Morgan and Goodbody on Wagamama
Wagamama’s second quarter trading update may have revealed its lowest like-for-like growth rate since Q4 2016, but according to analysts at JP Morgan this is missing the point.
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NewsTallboy made group CIO of TRG
Wagamama chief information officer Richard Tallboy has been promoted to group CIO of parent company The Restaurant Group, MCA understands.
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NewsFrankie & Benny’s focuses new menu on Italian American roots
Frankie & Benny’s has revamped its menu as it looks to highlight its Italian American roots.
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Analysis & Insight‘TRG now has a future’
The legacy of Andy McCue’s truncated time as chief executive of The Restaurant Group is, as well all know, the £559m acquisition of Wagamama. When the deal squeaked through last year, there was widespread scepticism over the longevity of its stellar like-for-like sales growth.
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OpinionOpinion: TRG has a spicy star in Wagamama
There are 135 reasons why the new Restaurant Group CEO, Andy Hornby, can feel positive about the future. That’s how many Wagamama sites there are in the UK and each one is crucial to TRG (it also has five in the US and 57 franchises elsewhere around the world).
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OpinionJP Morgan and Goodbody on The Restaurant Group
The Restaurant Group’s (TRG) H1 results yesterday revealed a strong performance from Wagamama and plans to rationalise the Leisure estate. Analysts at JP Morgan and Goodbody give their take on the numbers.
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Analysis & InsightMixed wag: TRG leisure estate continues to drag
Former HBOS boss Andy Hornby might have hoped for a smooth introduction to the sector yesterday after joining The Restaurant Group as CEO in August.
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OpinionAnalysts’ verdict: Goodbody on The Restaurant Group
In advance of The Restaurant Group’s H1 trading update tomorrow, analyst Goodbody says it’s expecting strong growth from Wagamama and evidence of stabilisation within its leisure division.
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NewsTRG expands delivery brands under new new division
The Restaurant Group is launching two new virtual brands, Daily Naan and K Bird, as part of a new business division TRG Delivery, MCA understands.
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News
Joseph Holt to open microbrewery at Manchester Airport with TRG
Brewer and pub operator Joseph Holt is to open a microbrewery at Manchester Airport’s new £1bn terminal with TRG Concessions.
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NewsAnalysts corner: Berenberg on TRG
While some key questions remain around whether Wagamama can maintain its positive momentum within The Restaurant Group, analysis of Trip Advisor ratings by Berenberg has found that signs are positive – and that customer perception of Frankie & Benny’s is improving.
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Analysis & Insight’A brand that has been around for a certain amount of time can be both a gift and a curse’
The Restaurant Group’s director of product innovation talks to Sarah Sharples at MCA’s sister title Food Spark about dish development at Frankie & Benny’s, why innovation is key to fighting casual dining woes and her hopes for sustainable eating.
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NewsFormer CMO at TRG to join Deliveroo as GM for Ireland
Michael Healy, former chief marketing officer at The Restaurant Group, has been appointed general manager of Deliveroo in the Republic of Ireland.
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NewsTRG confirms Hornby will join as CEO in August
The Restaurant Group (TRG) has confirmed that new chief executive, Andy Hornby, will join the company on 1 August.
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Analysis & InsightA message to you Andy: What’s top of the in-tray for new TRG CEO?
MCA market insight director Steve Gotham looks at the key challenges and opportunities for incoming chief executive, Andy Hornby, at The Restaurant Group. This includes the continued ‘optimisation’ of the Leisure estate, with some green shoots visible at Chiquito in terms of resonance with consumers. He also examines the potential for leveraging the positive momentum at Wagamama through conversions across the wider portfolio.