News
The latest industry news 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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Sep- 2024 -17 September
Today’s news in brief – 17/09/24
Pret A Manger’s global sales have hit £1.1bn for the first time in FY23, following its expansion into overseas markets. This comes as the group achieved its medium-term growth target during the period, which was set in 2021. The group aimed to double its size within five years, but instead…
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17 September
Drinks sales drop 12% amid strong comparatives
Average drinks sales in Britain’s managed venues dropped by 12% year-on-year in the week ended Saturday 7 September. It is one of the biggest gaps in sales of 2024 so far, with trading down all seven days and is the result of difficult comparatives against September 2023. In the same…
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17 September
Arc Inspirations FY turnover rises 16.2% to £47.4m
Leeds-based hospitality group Arc Inspirations, which operates Box and Manahatta, has reported a 16.2% rise in turnover to £47.4m for the year to March. The group also revealed that EBITDA for the year rose by 37.1% to £5.3m, with average site EBITDA up by 22% to more than £550k per…
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17 September
Knoops launches fundraise amid 110% FY revenue increase
Knoops is ring-fencing at least £1m in a campaign via Crowdcube to allow its customers to join existing investors in a wider £5m EIS fundraise as the company sees revenue increase in FY24. The proceeds will allow Knoops to add to its 21 stores in the UK, expand its retail,…
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17 September
Pasta Evangelists opens second Pasta Emporium in Greenwich
Pasta Evangelists has opened its second Pasta Emporium in Greenwich, following the launch of its Richmond franchise in July. The new opening in South East London will follow the same new take on Italy as the first Richmond location, with fresh pasta shapes made by hand on site and served…
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17 September
Pret A Manger FY global sales hit £1.1bn for first time
Pret A Manger has reported a 10% increase in first-half sales to £569m, whilst also revealing that global sales hit £1.1bn for FY23 for the first time, following its expansion into overseas markets. Pret confirmed that it achieved its medium-term growth target during FY23, which was set in 2021. The…
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16 September
Today’s news in brief – 16/09/24
The end of business rates relief could cost the industry £928m in April, UKH has warned. Data from UKH found that A local pub could see an increase of £11k, a town centre restaurant an additional £30k, and a seaside hotel could be left with an increase of £40k. As…
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16 September
Business rates relief end could cost hospitality £1bn, says UKH
The end of business rates relief could cost hospitality businesses £928m in April, according to data from UKHospitality. Hospitality and leisure businesses face their bills quadrupling, totalling tens of thousands of pounds per venue, if business rates relief ends as planned on 31 March. Data from UKH found that A…
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16 September
Pizza Express opens new restaurant at The ICC Birmingham
Pizza Express has announced that it has officially opened its newest pizzeria at The ICC, Birmingham. Alongside serving up its pizza and dough balls, the company is bringing live music back to the city of Birmingham by launching its first record store outside London inside the pizzeria. Featuring vinyl and…
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16 September
Experiential hospitality more compelling than traditional venues, research finds
Experiential venues like competitive socialising bars, event spaces and food halls have emerged as an “increasingly compelling” alternative to traditional hospitality venues, according to research from CGA by NIQ. CGA’s new report found that 35% of consumers that go out for competitive socialising activities do so every week, following a…
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