Sales down again for Frankie & Benny’s owner The Restaurant Group but share price rises August 31, 2018 Frankie & Benny's owner The Restaurant Group reported another slip in sales this morning, as this year's changeable weather deterred punters from eating out. But shares in the company were up 3.8 per cent in early trading as it flagged improved trading since the end of the first half of the year. The figures Like-for-like [...]
Margin pressure and bad weather take a slice out of Pizza Express profits but overall sales grow August 29, 2018 Pizza Express unveiled what it called a "resilient" performance today, despite pressure on margins driving down profits. The restaurant chain, which is owned by Chinese private equity group Hony Capital, has faced cost pressures as well as a significant impact from this year's changeable weather. The figures Group turnover in the 26 weeks to the beginning [...]
Richoux shares drop as restaurant group raises extra funds August 29, 2018 Restaurant group Richoux has announced a plan to raise £1.1m through a share subscription as it faces "continued pressure" from headwinds in the casual dining industry. Shares in the Aim-listed company dropped more than 14 per cent in early trading after the announcement. The group, which also includes the brands Villagio, Friendly Phil's, Zintino and [...]
The Gym Group flexes its muscles with strong expansion and member growth August 29, 2018 Budget gym operator The Gym Group reported another strong period this morning, as membership numbers soar in line with expansion. The figures With six new openings and a string of 13 easyGym sites acquired just after the period end, the total number of gyms reached 147. The group's rapid expansion saw member numbers jump to 720,000, [...]
Tiffany’s unveils higher than expected sales and profits August 28, 2018 Iconic jeweller Tiffany & Co. reported better than expected sales and profit growth today, with higher sales across all products and several geographies. The figures Worlwdwide net sales rose 12 per cent to $1.1bn (£850m) in the second quarter, while net earnings were up 26 per cent to $145m. This was driven by a particularly [...]
Bunzl boosts profit and announces push into Norway August 28, 2018 FTSE 100-listed distribution group Bunzl posted a four per cent increase in half-year profit today as it announced an acquisition in Norway, its first in the country. The outsourcing and distribution business, now with operations in 31 countries, grew adjusted profit before tax to £257.9m, while revenue grew five per cent to £4.343bn. Read more: Bunzl [...]
Exclusive: Banking groups Investec and SC Lowy move to rescue Gaucho after buying up debt August 24, 2018 Two banking groups are closing in on an acquisition of Gaucho after buying out debt from the collapsed restaurant chain's other lenders, City A.M. understands. Investec and Hong Kong-based SC Lowy are now moving to buy Gaucho from administrators Deloitte after buying the debt of other lending banks in Gaucho's syndicate. An Investec spokesperson told City A.M.: "Investec [...]
Luke Johnson still ‘optimistic’ on leisure sector after selling stake in restaurant group Ego August 22, 2018 Veteran restaurant investor Luke Johnson has said he is still "optimistic" about the leisure sector despite recent high-profile failures. His comments came after it was confirmed that he has sold his stake in 3Sixty, the parent company of 17-strong restaurant chain Ego, to hospitality behemoth Mitchells and Butlers for what he told City A.M. was [...]
Yo! Sushi eyes opportunities for supermarket growth after acquisitions August 21, 2018 Yo! Sushi increased sales last year ahead of two major acquisitions which could see the company expand into the grocery sector this year. The Japanese restaurant chain reported a 1.7 per cent uptick in total sales to £89.9m for the year to 27 November. This included a four per cent rise on a like-for-like basis, driven by the strength [...]
The Urbanologie app shows you how to live the high life like a globe-trotter August 17, 2018 Picture this. You’re on holiday in an exotic locale, travel guide in hand – probably one produced by a big brand like Lonely Planet or some other pocket guide. The pages are dog-eared from where you’ve bookmarked all of the things you want to see and do. But half the time, the recommendations made by [...]