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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Nov- 2023 -7 November
Oakman Group profits fall despite jump in sales
Oakman Inns and Restaurants has reported that its EBITDA dropped from £12.0m to £9.8m for the last financial year (June 2023) as its profits were impacted by inflation. However, its group sales were 8% ahead of the prior year at just under £70m. In addition, like-for-like sales for the core…
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7 November
Contract caterers’ Q3 sales rise 15%, CGA says
Contract caterers’ sales in the third quarter of 2023 were 15% ahead of the same period in 2022, the latest Contract Catering Tracker from CGA by NIQ and Bidfood revealed. It continues catering’s strong recovery from the Covid-19 pandemic, when sales were decimated by lockdowns and widespread working from home.…
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7 November
SSP Group appoints new chief people officer
SSP Group has announced the appointment of Ann-Marie Murphy as its new chief people officer. She joins from The Gym Group, where she was chief operations officer. She has been with the gym operator since 2018, initially in the role of director of people and development. She was later promoted…
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6 November
Today’s news in brief – 06/11/23
RBI, the parent company of Burger King, Popeyes and Tim Hortons, reported Q3 revenues of $1.83bn (£1.48bn), up from $1.72bn (£1.39bn), primarily driven by increases in system-wide sales in all of its segments. EBITDA for the group increased by 9.3% to $698m (£563m), while net income for the quarter was…
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6 November
Closures slow after licensed premises drop below 100,000
The number of licensed premises in Britain has fallen by 3.6% over the last 12 months to 99,916 sites, according to data from CGA and AlixPartners. The total at the end of September 2023 marks the first time it has dropped below 100,000 since records began. The 3,766 drop over…
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6 November
Restaurant Brands International sales rise to $1.8bn in Q3
Restaurant Brands International (RBI), the company behind Burger King, Popeyes, Tim Hortons and Firehouse Subs, has seen revenues rise to $1.83bn (£1.47bn) in Q3, up from $1.72bn (£1.38bn). This result was primarily driven by increases in system-wide sales in all of its segments, according to the group. For the period…
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6 November
Outpost Bar and Kitchen to open in Pontcanna’s Laundry Quarter
Outpost, a new Welsh independent bar and kitchen based in Pontcanna’s Laundry Quarter, is set to open its doors on Wednesday, 8 November. The man behind the new venture is Nick Saunders, founder of Cardiff’s Depot venue and Depot’s spin-off, the Tiger Yard street food venue in Cardiff Bay. He…
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6 November
Finca to open sixth site in Glastonbury
Coffee shop company Finca will be opening its sixth location in Glastonbury on Market Street, in the New Year. The new Finca opening will sit in the original location of “fashionable” artisan coffee shop Mocha Berry, which first opened in 1959. Finca established the first specialty coffee shop and roaster…
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3 November
Today’s news in brief – 03/11/23
Starbucks revenues increased 11% to $35.9bn for the full year ended 1 October, as global comparable store sales increased by 8%. The company’s operating income for the full year increased by 27% to $5.8bn compared with $4.6bn in 2022. In Q4, net revenues for the international segment grew by 11%.…
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3 November
Half of restaurant-goers say bad experiences damage brand loyalty
Nearly half (49%) of restaurant-goers stated that a few bad experiences is the biggest reason why they become less loyal to a brand, according to a survey by CGA and Zonal. The survey of more than 5,000 UK adults found that 52% of consumers say they now have higher expectations…
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