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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May- 2024 -3 May
Today’s news in brief – 03/05/24
Yum! Brands reported a 3% decline in revenue to $1.5bn (£1.1bn) for Q1. Operating profit for the group also declined by 1% to $520m (£414m), while core operating profit grew 6%. KFC revenues declined by 8% to $632m (£503m), while sales for the division declined 4% to $105m (£83m). Nightcap…
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3 May
The Royal Oak pub in Durham up for sale
The Royal Oak pub in North West Durham has been put up for sale with a freehold price of £370,000. The pub is a traditional country style free of tie pub with a large beer garden area, dining area, and drinks space. The main trading area comprises a bar and…
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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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3 May
Deliveroo, Just Eat and UberEats commit to prevent illegal workers
Deliveroo, Just Eat and Uber Eats are taking significant steps to protect the British public’s safety by preventing exploitation of account sharing by those looking to work. Michael Tomlinson, the minister for Countering Illegal Migration, and minister Hollinrake, the minister for Business and Trade, met with representatives from the three…
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3 May
Nightcap quells Revolution Bars acquisition rumours
Nightcap has released a response to speculation that it is planning to acquire Revolution Bars Group, following its documented struggles with debt. Early in April, Revolution Bars suspended trading of its shares on AIM after it failed to publish its yearly fiscal results. Rob Pitcher, the CEO of Revolution Bars,…
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2 May
Today’s news in brief – 02/05/24
Starbucks net revenues declined 2% to $8.6bn (£6.8bn) during Q2. The group’s global sales also declined 4% during the period, with North America and US comparable store sales declining 3%, while international sales declining 6%. Net revenues for the International segment declined 5% in Q2 FY24, primarily driven by an…
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2 May
Ikoyi launches first takeaway menu with Uber Eats
Two Michelin-starred restaurant Ikoyi has announced the launch of its first takeaway menu alongside Uber Eats. The menu is priced at £60 for all five courses and will feature Ikoyi’s original Jollof Rice. It also includes a green slaw and crispy fried chicken with the Ikoyi classic combo of scotch…
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2 May
Starbucks revenues dip 2% to $8.6bn in Q2
Starbucks net revenues declined 2% to $8.6bn (£6.8bn) during the 13 weeks ended 31 March. The group’s global sales also declined 4% during the period, with North America and US comparable store sales declining 3%, while international sales declining 6%. Net revenues for the North America segment of $6.4bn (£5.1bn)…
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2 May
Rarebreed Dining appoints Savills on strategic business and real estate review
Rarebreed Dining has appointed international real estate advisor Savills to assist with a strategic review of the business and its property assets as it gears up to consider options. The steak focussed pub company currently operates from The Plough Inn, Cobham (leasehold), The Shurlock Inn, Twyford (freehold) and The Waverley…
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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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