Profit warnings issued by FTSE travel and leisure companies fell to their lowest level in seven years in 2021 despite the sector experiencing another challenging year, according to EY-Parthenon’s latest Profit Warnings report. In total, it said the FTSE travel and leisure sector, which also includes restaurants and bars, issued…
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The latest news and updates on the business of foodservice, from the business journalists at Catering Today. We bring you the latest on what’s happening in the restaurants, bars and catering industry, with exclusive stories, analysis, best practice and industry comment.
Gross domestic product (GDP) has surpassed its pre-pandemic level for the first time as it grew by 0.9% in November 2021, according to the latest Office for National Statistics (ONS) data. In the latest release, output in consumer-facing services grew by 0.8%, mainly because of a 1.4% increase in retail…
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Business investment in the hospitality industry rose 8.9% on an annual basis in the third quarter of last year as Covid optimism began to spread, according to the latest ONS data. Business investment by hotels and restaurants climbed to £988m in Q3 2021, up from £907m the previous year, analysis…
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Losses at the the top 100 UK restaurant groups increased by 174% last year to £673m, up from a loss of £246m in September 2020, revealed UHY Hacker Young. Lost sales reportedly cost the hospitality sector around £200m a day during lockdown, with restaurants continuing to incur “substantial” costs such…
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Everards has reported an operating loss of £3.4m for the financial year ending September 2021, along with a £1.3m loss for the year ending September 2020. The company said that trading restrictions for nine months of the year is the reason behind the loss, which was reportedly driven by a…
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Greggs has announced its sales for the 52 weeks ending 1 January 2022 (FY21) increased by 51% to £1.23bn from £811m in 2020, and representing a two-year increase of 5.3% compared with the same period in 2019. In the fourth quarter of 2021, Gregg’s two-year like-for-like sales in its company-managed…
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Global food service provider Aramark has announced that Patricia E. Lopez and Ken M. Keverian have been nominated for election to the company’s board of directors at its annual meeting of shareholders to be held on February 1, 2022. The company has offices in London, Leeds, Belfast and Aberdeen, employing…
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Aramark has announced the acquisition of the independent foodservice company, Wilson Vale in the UK. The company said Wilson Vale joins the Aramark UK business, part of Aramark Northern Europe operations, as a “key driver” of high-quality growth and service delivery for small, premium business and industry clients and Independent…
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Gregg’s has taken the lead as the “dominating brand” in the food to go sector (FTG) with a 10.7% share of occasions, according to the Lumina Intelligence UK Food To Go Market Report 2021. The report reveals Greggs has overtaken McDonald’s with a 1.3% increase in share of occasions in…
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Domino’s Pizza Group plc has announced that it has reached a resolution with its franchisees after the board reportedly recognised that Domino’s “lagged” in recent years compared to its businesses around the world. The resolution is set to tackle this issue and to accelerate both near-term and long-term growth. The…
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