Finance – Page 249
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NewsWhitbread details restaurant improvements
Whitbread is seeing a “significant improvement” in guest scores and ‘intention to return’ rates at its restaurants, and is also reversing earlier margin contraction as it draws back from promotions, according to chief executive Andy Harrison
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Oracle in Micros talks
Oracle Corp is reportedly in talks with Micros Systems Inc to buy the software maker for the hospitality sector for more than $5bn
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NewsChinese private equity firm eyes PizzaExpress bid
Hony Capital, one of China’s largest private equity firms, has emerged as a bidder for PizzaExpress, according to Sky News
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NewsEd’s appoints advisor as it looks at financing options
Ed’s Easy Diner has appointed corporate advisory firm McQueen to advise it on its financing options as it gears up for the next stage of its development
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NewsAnalysts upbeat on M&B’s Orchid acquisition
Analysts have given a generally positive response to Mitchells & Butlers’ acquisition of the majority of the Orchid estate
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NewsSSP confirms IPO move
SSP, the travel concessions operator, has confirmed reports that it plans to proceed with an initial public offering and float on the London Stock Exchange, raising primary proceeds of c£500m through the offer of new shares
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NewsCote completes Muswell Hill deal
Cote, the French brasserie chain, has completed on a further site in London, in Muswell Hill
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NewsWhitbread Q1 lfls grow 6.9%
Whitbread, the leisure group, has reported a 6.9% rise in like-for-like sales in the 13 weeks to 29 May, led by Premier Inn (+9.5%) and Hotels and Restaurants (+7.6%), while Costa and the Restaurants divisions were up by 4.5% and 4.4% respectively
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River Cottage launches fundraising
River Cottage Canteen has issuing a £1m mini-bond through crowd-funding website Crowdcube as it looks to expand to large footfall sites in prime locations
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Commercial sector boosts Majestic
An increase in sales direct to pubs, bars and other commercial businesses helped Majestic Wines grow total sales 1.4% to £278m in the year to 31 March 2014
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NewsM&B's Orchid acquisition 'a good deal' but has 'execution risk'
Mitchells & Butlers’ (M&B) acquisition of 173 Orchid sites is a “good deal”, although it could disrupt M&B’s cultural reengineering programme and will increase the size of its bottom end by c23%, according to leading analyst Geof Collyer
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NewsM&B completes £266m Orchid acquisition
Mitchells & Butlers (M&B) has announced that it has acquired the majority of Orchid’s estate, consiting of 173 sites, in addition to Orchid’s head office, for £266m
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NewsM&C20 slides amid interest rate fears
There was a downturn across the M&C20 this week with more than half the companies in the leisure index slipping a few points, possibly in reaction to Mark Carney’s announcement that household interest rates could rise sooner than markets were anticipating
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Analyst corner
Leading analyst Jamie Rollo of Morgan Stanley Leisure has said Wetherspoon needs to hit 5.4% like-for-like sales growth in its fourth quarter to be in line with the full year estimate set by the analyst firm
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Firezza secures new investment and Pizza Lupa
Firezza has acquired a controlling stake in rival brand Pizza Lupa and has plans to grow to 25 sites over the next three years,
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NewsLoungers FY EBITDA grows 52%
Loungers has reported a 52% rise in EBITDA before central overheads to £6.7m in the year to 27 April as like-for-like sales grew 5.1%, and said its Lounge format could “easily” exceed 350 sites
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Staycations on the rise
The number of Brits choosing to holiday at home is on the up as consumer spending confidence begins to grow people are buying holidays in the UK
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NewsChilango’s Burrito Bond attracts key industry players
Chilango, the Mexican fast-food concept, has already raised more than £207,000 of its £1m fundraising target after the first day its mini bond, or Burrito Bond, has been available on CrowdCube
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NewsJack: Spirit shares are 'arguably undervalued'
Leading analyst Douglas Jack has said Spirit Pub Company’s shares are “arguably undervalued” following its Q3 update yesterday
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Five Guys lifts Bluewater
Bluewater, the 1.6m sq ft shopping centre owned by Land Lease, saw sales of its catering brands rise 11% in May against the same month last year, fuelled by the opening of Five Guys there in April