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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Aug- 2024 -7 August
Fuller’s acquires Lovely Pubs for £22.5m
Fuller’s has announced the acquisition of Lovely Pubs, a collection of seven pubs in Warwickshire – for a total consideration of £22.5m. The news comes as the portfolio of Warwickshire pubs are “a perfect fit” with Fuller’s existing managed pub estate, both geographically and operationally. Lovely Pubs is made up…
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7 August
Danish steakhouse KöD to open second site in Soho
DiningSix restaurant brand KöD, London’s only Danish steakhouse, is set to open a second site in Soho in mid August. Behind the brand is London based founding partner Morten P. Ortwed who, along with five friends, launched KöD in Denmark in 2014 before expanding into Norway and moving to the…
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6 August
Today’s news in brief – 06/08/24
Domino’s has downgraded its FY profit forecast, as PBT plummeted 35.2% to £59.4m as total orders were down 0.9% compared with the same period last year. As a result, group revenues were down 1.8% to £326.8m in the half-year period, with lower supply chain revenue offset by increased corporate store…
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6 August
Domino’s lowers FY profit forecast
Domino’s has downgraded its FY profit forecast saying it now expects underlying EBITDA to be on the lower range of £144.3m – £149.2m. In the 26 weeks ended 30 June 2024, the pizza company saw its statutory profit-before-tax plummet 35.2% to £59.4m. However, underlying PBT slightly increased 0.8% to £51.3m.…
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6 August
Papa John’s names Todd Penegor as new president and CEO
Papa John’s has announced the appointment of Todd Penegor as its new president and chief executive officer, effective immediately. Penegor succeeds interim CEO Ravi Thanawala in the role. Having held the role since March of this year, Thanawala will continue at the group in his chief financial officer role. Having…
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6 August
Wingstop UK business up for sale
Wingstop has hired Goldman Sachs to conduct a sales process for its UK business, according to reports from Sky News. Sources told the outlet that the process was initiated in response to unsolicited expressions of interest from potential buyers. Goldman is understood to have begun issuing information about Wingstop UK…
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6 August
UKH launches support hub as riots affect the sector
UKHospitality has published a support hub for businesses and staff that have been affected by the riots and violent disorder that have descended upon towns and high streets over the weekend (3 and 4 August). The hub includes advice on compensation for victims of criminal damage or loss during a…
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5 August
Euros hangover pushes drinks sales down in July
Drinks sales in the UK’s managed venues fell 6% for the week ended 27 July 2024 as consumers tightened their spending following the European Championship, according to CGA. It found that patchy weather and tough comparatives with July 2023, which included the boost of the Women’s World Cup, were also…
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5 August
Knoops appoints two non-exec directors
Knoops has announced the appointment of Julian Metcalfe and Alice Avis as non-executive directors, both also being investors in the business. Metcalfe is a “renowned” entrepreneur and co-founder of Pret a Manger and founder of Itsu. Avis was previously CEO and chair of the Sanctuary Spa Group, an international beauty…
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5 August
Liberation Group sees LFL sales rise 6.4% in H1
Liberation Group, a privately owned premium pub operator and brewing group with sites stretching from Mayfair in London to St Aubin in Jersey, has reported a 6.4% increase in H1 LFL sales. The group’s LFL growth was delivered in all markets and channels, with a “standout” performance in food at…
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