Food and Drink
The latest news and updates on food, 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.
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May- 2024 -15 May
Hospitality leaders remain cautious amid rise in revenues
Britain’s hospitality leaders remain cautious amid tentative signs of improved consumer spending and relief on some costs, CGA by NIQ’s latest Business Confidence Survey reveals. The exclusive poll revealed that 34% of leaders feel confident about prospects for the hospitality market over the next 12 months—down by seven percentage points…
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10 May
Greggs opens 2,500th shop in five-year growth plan
Greggs has announced the opening of its 2,500th shop, hitting a “significant” milestone in its estate expansion strategy. This comes as, in 2021, the group launched its five-year growth plan, which outlined its ambition to reach over 3,000 shops across the UK in the long-term. For the rest of 2024…
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9 May
Metropolis to open new site in Vauxhall
Metropolis London, a brand-new multi-faceted food and entertainment space, is set to open its doors in Vauxhall at Albert Embankment’s Railway Arches at the end of May. The 8,000 sq ft venue across two arches features a line-up of 11 local street-food vendors alongside a standalone bar and live events…
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3 May
Yum! Brands revenues dip 3% to $1.5bn in Q1
Yum! Brands, which operates KFC, Taco Bell and Pizza Hut, reported a 3% decline in revenue to $1.5bn (£1.1bn) for the first quarter ended 31 March. Operating profit for the group also declined by 1% to $520m (£414m), while core operating profit grew 6%. KFC revenues declined by 8% to…
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2 May
Domino’s Q1 in line with expectations despite ‘slow’ January
Domino’s has revealed in a trading update that Q1 performance is in line with expectations, as it experienced positive like-for-like sales and total orders across February and March after a “slow” January. While like-for-like sales are down 0.5% on the same period last year, Domino’s Q1 like-for-like sales increased 8.4%…
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Apr- 2024 -30 April
Foodservice price inflation below 10% for first time since 2022
Foodservice price inflation has fallen below 10% for the first time in two years, according to data from CGA. This comes after a 1.4% decline in foodservice price inflation in March, the largest month-on-month decline ever recorded by the Foodservice Price Index. The softening of inflation has also been seen…
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26 April
At-home restaurant sales flatline in March
At-home sales for the top managed restaurant groups were “virtually flat” year-on-year in March, according to CGA by NIQ’s latest Hospitality at Home Tracker. During the last month, like-for-like sales of deliveries and takeaways were just 0.8% ahead of March 2023. According to CGA, this was a 10th consecutive month…
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24 April
Pret co-founder returns amid board shakeup
Pret a Manger has announced that its co-founder Sinclair Beecham will return to the company in an advisory role as it reshuffles the makeup of its board. Olivier Goudet, who has been chairman since JAB’s acquisition in 2018, will step down and be replaced by his colleague Konrad Meyer. Meyer…
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22 April
Toca Social to open new site in Birmingham
Toca Social has announced it will be opening its second site in the UK in the Bullring Birmingham from 3 June. Alongside this, Toca Social has designed a new food menu featuring globally inspired, handheld sharers for guests to enjoy while playing, such as London based Chick ‘n’ Sours. The…
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18 April
Hospitality sales rise 5.2% in March due to Easter boost
Britain’s top hospitality groups experienced above-inflation like-for-like sales growth of 5.2% in March, according to CGA and RSM latest Hospitality Business Tracker. While hospitality operators enjoyed the boost to trading that events such as Mother’s Day and St Patrick’s Day brought, the high growth metrics seen in the Tracker…
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