Naked Wines boss ‘excited about the future’ as the company goes ‘back to basics’ August 30, 2024 Over the last year, Naked Wines has undergone a painful restructuring process, with measures to reduce costs, stock, and advertising spending in what it called a “pivot to profit.” In December 2023, the company warned that it might not be able to pay its debts if it didn’t manage to make a turnaround work. Now, [...]
London hotel occupancy rates return to pre-Covid levels but services inflation fears fueled August 29, 2024 London hotels enjoyed another strong month in July as occupancy rates finally ticked back up to peak occupancy levels seen in summer 2019, but it’s not all rosy for the industry. London occupancy reached 89.3 per cent, up on 84.6 per cent last year and back to peak occupancy levels seen in July 2019. Despite [...]
Outdoor pub smoking ban would cause ‘serious economic harm’ to UK hospitality August 29, 2024 A possible smoking ban in outdoor spaces of pubs, bars and restaurants in the UK is likely to do more harm than good, leading trade figures have warned. The ban would make it illegal to smoke in pubs, outdoor restaurants and open-air spaces in nightclubs, according to leaked documents seen by The Sun, in a [...]
Magners and Tennent’s owner C&C outperforms in tough alcohol market August 15, 2024 Drinks company C&C, the owner of brands such as Magners and Tennent’s, has said it’s on track to meet expectations this year despite well-documented troubles in the alcohol industry. The firm, which is headquartered in Dublin, said in an update ahead of its AGM that it remained “confident” of achieving its set goal and that [...]
Burger King UK’s revenue spikes after restaurants revamped and new sites opened August 12, 2024 Burger King has reported a rise in sales and revenue in 2023 after a boost from new restaurant openings. Revenue spiked by a huge 30 per cent, although like-for-like sales only rose by three percent. The rise in revenue was due to growth in the “existing estate and new restaurants”, as well as “good cost [...]
Just Eat: Shares spike, but is there trouble ahead? July 31, 2024 Just Eat beat market expectations in its first-half results and announced a share buyback of up to €150m (£126m). The market responded well: the takeaway giant’s share price rose by over eight per cent on Wednesday. True, adjusted earnings before interest, tax, depreciation and amortization (EBITDA) at the Amsterdam-headquartered company surged 42 per cent, but [...]
Just Eat: Brits lead the way for takeaway giant as revenue dips July 31, 2024 Brits willing to shell out cash on takeaways fuelled Just Eat in the first half of the year, but negative growth in north America and southern Europe led to a dip in revenue overall. Total revenue dropped by one per cent at the takeaway giant year on year in the first half of 2024, while [...]
Greggs: Bakery chain on a roll as sales up once again July 30, 2024 Greggs' total sales for the 26 weeks to June 29 reached £960m, crediting the boost in numbers to a partnership with Uber Eats and the roll-out of its evening trade plan.
Heineken shares drop on near-£750m China impairment charge July 29, 2024 Heineken has taken a €874m (737m) impairment charge on its investment in China’s largest brewer, leading it into the red and causing shares to drop by seven per cent in early trades. The impairment charge led to a first-half net loss of €95m (£80m) for the brewer, down from profit of €1.1bn (£930m) in the [...]
Young’s sees summer of sport boost business: We’re in “brilliant shape” says outgoing chairman July 25, 2024 Young’s has announced a rise in revenue of 26 per cent since the start of the new financial year on the back of a boost from the UK’s summer of sport. The Euros and Wimbledon have dominated pubs’ TV screens and sent countless customers to bars and beer gardens to make the most of the [...]