All articles by Shwetali Sapte – Page 25
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NewsGreggs hits £1.8bn sales
Total sales in 2023 were up 19.6% vs 2022, with like-for-like up 13.7% as the retailer reports its market share is at an all-time high and reiterates its ambition for more than 3,000 in the long term
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NewsVagabond undertakes restructuring process
The Imbiba-backed, London-based wine bar chain attributed the decision to legacy Covid debts, cost pressures, and the forced closure of the company’s Heathrow venue - albeit all other locations remain open and trading
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NewsEG Group grows foodservice sales
The group reported £243m in foodservice sales in Q4, driven by its focus on pricing and operating efficiencies as well as the ongoing foodservice investment programme
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NewsYoung’s completes acquisition of City Pub Group
The deal will significantly strengthen Young’s’ presence in London and in new geographies, while bringing together two ‘complementary, culturally, strategically aligned’ businesses
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Analysis & InsightRestaurants see double-digit drop in spend in February
Barclaycard reports that spending on takeaways and fast food increased 5% year-on-year, while spend on restaurants contracted 13.4%
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Analysis & InsightNight time economy report paints picture of struggling sub-sector
Productivity and profitability remain constrained despite some recovery in consumer spend, according to the Night Time Industries Association
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NewsPapa John’s to close 50 underperforming UK sites
The closures are part of a process to reposition and optimise its UK business model as the pizza chain reports a decline in international sales in 2023
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NewsBob & Berts targeting 100-site mark
The 30-strong coffee shop chain has lifted its long-term growth target and identified the out-of-town retail park market as a new area for growth in the UK
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NewsHeavenly Desserts set for further expansion
The c50-strong dessert restaurant group has several locations lined up in the UK and Germany, as it looks to open 20 sites per year across Europe
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NewsCoffee#1 sees double-digit sales growth
Iced coffee has established itself as a growth driver for the Nero Group-owned coffee shop chain, which reports £54m in sales as it continues expanding its 118-strong estate
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NewsBurger King, Stonegate and more call for action ahead of Spring Budget
UKHospitality, along with 112 businesses from across the sector, have signed an open letter urging the Chancellor to take action to prevent further business failure
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NewsKFC releases first ever nutrition progress update
The report, which will be repeated on an annual basis, tracks the steps the fast food giant is taking to improve nutrition and reduce calories and sugar across its menu
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NewsHarrison unveils Bar Tap at Wembley Stadium
The self-service “frictionless” bar opened for the Carabao Cup final, with a promise to customers of speed and convenience when buying drinks
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Analysis & InsightOver 500 restaurants closed in Q4 2023
UK restaurant closures hit their highest ever quarterly figure at the end of 2023, with c514 restaurant businesses permanently closing in the final quarter, according to Price Bailey
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NewsBreal rebrands to Keystone Brewing Group
The London-based funding and advisory services group, which acquired businesses including Vinoteca and Black Sheep Brewery last year, is planning to acquire more distressed breweries as part of a plan to grow sales fourfold to £100m by 2028
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NewsBear appoints ops director
Kirsty Rose, formerly of Miller & Carter and Greene King, has joined the coffee shop chain as it looks to grow its estate and ecommerce platform
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InterviewsSlerp: ‘White label will dominate in the long term’
White label delivery solutions have grown in “leaps and bounds” over the past few years, chief commercial officer Zal Dordi told MCA’s Hostech
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Analysis & InsightBarclays forecasts greater shift towards contactless spend
Contactless spending at restaurants fell -2.9% in 2023, compared to -6.7% for overall restaurant spending
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NewsCornish Bakery sees ‘significant’ opportunity for growth
The 56-strong bakery chain reported £23.7m in turnover as it plans to ‘double or triple’ in size
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NewsRed Engine reports £100m sales in 2023
The Flight Club and Electric Shuffle operator saw revenue rise 28% in 2023, with like-for-like revenue growing 10% as it gears up to open eight venues this year