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- 2023 -4 May
Mixed Q1 for UK drinks sales
CGA Strategy’s Drinks Recovery Tracker has revealed a “reasonable outlook” for Q1 with wine sales up but spirit sales down. It revealed wine sales have seen growth every week in 2023 as older consumers returned to pubs, bars and restaurants after the pandemic. Meanwhile, beer sales were in year-on-year growth…
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4 May
Domino’s launches £20m share buyback as app sales rise in Q1
Domino’s Pizza has activated a £20m share buyback programme after seeing like-for-like sales through its app increase by 10.7% in the first quarter, with order count increasing by 2.8% to 18 million. The news comes as the group’s new app has increased its active customers by 27% to roughly 6.8…
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3 May
Hospitality loses 4,600 venues in 12 months
Britain has suffered a net decline of 4,593 licensed premises in the last year to March 2023, according to the Hospitality Market Monitor from CGA Strategy. The drop is equivalent to 4.3% of the licensed sector since March 2022, and an average of 12.6 closures a day. In better news,…
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3 May
Restaurant Brands International sees Q1 earnings hit $588m
Restaurant Brands International which runs Burger King, Popeyes, Tim Hortons and Firehouse Subs, has revealed its earnings hit $588m (£469m) for the quarter ending in March 2023 as its global sales increased 10%. The company said the performance, which beat analysts expectations, was driven by increases in its segments as…
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3 May
Maison De Boeuf to open in Cardiff
A new Parisian-inspired bistro, Maison De Boeuf, is set to launch in Cardiff’s Castle Arcade on 12 May. The restaurant is the latest venture from the team behind Vintage Tea and Coffee Co, the family business behind independent bar chains Gin and Juice and Rum and Fizz, and the Coffee…
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3 May
Hostmore to further cost cutting plans amid new CEO appointment
Hostmore has announced a further cost reduction programme that will result in £4.1m of annualised savings, in addition to the group’s £1.8m annualised savings, as well as the appointment of Julie McEwan as permanent CEO of the group. The cost reduction announcement brings the total aggregate cost reduction to £5.9m…
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2 May
TRG reports Wagama sales up 9% despite backlash from investors
Wagamama owner, the Restaurant Group, has revealed that Wagamama sales grew 9% compared with 2022, over the four weeks to April 30, despite facing backlash from activist investors. According to its latest trading update, covering the 13 weeks to 2 April 2023, it recorded a 15% increase in dine in…
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2 May
Greene King revenues surge to £2.18bn
Greene King has announced that its revenues grew 62% to £2.18bn for the 12 months ended 1 January 2023. Profit before tax rose to £66.9m from a loss before tax compared with the previous year which saw the closure of all pubs for the first 15 weeks of the financial…
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2 May
Popeyes to launch first UK drive-thru in Rotherham
Popeyes has announced that it will launch its first UK drive-thru in Rotherham on 15 May. The drive-thru will be part of a 104-seat restaurant which will include seating indoors and outside. The restaurant will also have a dual-ordering lane to reduce expected vehicle queues, and a car park. Tom…
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2 May
Heinkenen to invest £40m in Star Pubs upgrades
Heineken has recently announced it will invest £40m in upgrading almost a quarter of the pubs in its Star Pubs & Bars’ estate in 2023. A total of 570 pubs will benefit from the improvements, with 100 of these scheduled for major revamps averaging £200,000 each, creating around 600 new…
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