News-In-Brief

Nov- 2024 -

20 November

Today’s news in brief – 20/11/24

Hospitality groups saw October sales slow amid ongoing cost increases, according to the CGA RSM Hospitality Business Tracker. In light of this, concerns have been raised for trading over the crucial Christmas period, which adds to new pressures on the sector’s tax burden set out in the government’s recent budget. …

19 November

Today’s news in brief – 19/11/24

Compass Group has acquired Zero Procure, a procurement firm that will sit within the Foodbuy UK and Ireland family of companies. Zero Procure provides services to a portfolio of clients, including a range of hotels and restaurants. For Zero Procure clients, the collaboration ensures access to a “robust” and “reliable”…

18 November

Today’s news in brief – 18/11/24

Pizza Hut UK’s biggest franchisee has started approaching potential bidders, according to Sky News. Heart With Smart (HWS), which operates roughly 140 Pizza Hut dine-in restaurants, has instructed advisers to find a buyer or raise tens of millions of pounds in external funding. Licensed hospitality venues have increased during Q3…

15 November

Today’s news in brief – 15/11/24

Young’s total revenues for H1 rose 27.2% to £250m, as like-for-like revenues rose 4.4% due to an “excellent” Euros turnout. Despite continued National Living Wage increases of almost 10%, utility costs and dual running costs from Young’s City Pub Group acquisition in the first quarter, adjusted operating profits rose by…

13 November

Today’s news in brief – 13/11/24

Fuller’s adjusted PBT jumped by 21% to £17.6m for H1 to 28 September, as like-for-like sales in its managed pubs and hostels rose by 5.2%. Fuller’s has seen growth in all areas of the business, with food like-for-like sales rising 5.5%, and drink and accommodation both rising 4.9%. Excel London…

12 November

Today’s news in brief – 12/11/24

Various Eateries expects its group revenues to beat expectations at £50.5m for the full year to 29 September, despite like-for-like sales declining by 1% by year-end. The operator of Coppa Club and Noci revealed that the elevated group revenues generated a small positive adjusted EBITDA, which was also slightly ahead…

11 November

Today’s news in brief – 11/11/24

UKH with the support of industry bosses have warned of the effects of the autumn budget, saying that it will cause small business closures, job losses and reduced investment in the sector. UKH boss Kate Nicholls was supported by the likes of Fuller’s, Stonegate Group and Whitbread, as well as…

8 November

Today’s news in brief – 08/11/24

Krispy Kreme has seen Q3 losses widen to $16m (£12.9m), up from a loss of $2.1m (£1.7m) in the previous year, as the UK market underperformed over the period. It comes as net revenues fell by 6.8% to $379.9m (£305.9m), down from $407.4m (£328.2m). Despite this, organic sales rose by…

7 November

Today’s news in brief – 07/11/24

Wetherspoon boss Tim Martin has warned of rising prices following the autumn budget, though the pub group intends to “make every attempt to stay as competitive as possible”. It comes as Wetherspoon has reported that LFL sales in Q1 were 5.9% higher than the same period last year, as bar…

6 November

Today’s news in brief – 06/11/24

Domino’s has reported that total sales rose 3% to £374.8m in Q3, as total orders increased 3.5% on a comparable basis to 17.4 million. The group attributed its performance to delivery orders continuing its “strong” momentum, as it was up 6.6% against last year’s Q3 to 11.1 million. However, collection…