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- 2022 -11 November
Danieli Group to deliver two new north east Stack sites
Newcastle-based leisure company Danieli Group has revealed its plans to invest £7m in the creation of two new Stack leisure hubs in County Durham. As a result, Danieli has submitted a planning application to convert the former M&S store at Silver Street, Durham into a Stack site, while also unveiling…
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10 November
Youngs revenues rise 25% as ‘normal’ trading returns
Young’s has seen revenues rise by 24.7% to £186.5m in the half-year ended 26 September, as the group welcomed a return to a “normal pub environment”. Over the period, profit-before-tax was up by 14.7% to £25m, while adjusted EBITDA rose by 5.4% to £45m. Managed house EBITDA was £55.5m, up…
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10 November
Domino’s sales rise 19% on 2019 but deliveries down in Q3
Domino’s has revealed that its total system sales were up +19.6% in Q3 2022, compared with the same period in 2019. Its like-for-like system sales (excluding splits and the change in the VAT rate) increased +2.4%, and total orders year-to-date was up +0.7. However, Q3 22 total orders were down…
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10 November
Nightcap to slow expansion plans despite revenue surge
Nightcap has announced that it plans to slow down its expansion plans of new site openings during the current financial year as trading in the first 13 weeks to 2 October 2022 has been “adversely” impacted by record warm weather, train strikes and the cost of living crisis, combined with…
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10 November
Aqua Restaurant Group to open fifth location in London
Aqua Restaurant Group has announced the opening of contemporary Japanese restaurant Shiro in late November 2022. This is the brand’s fifth location in the UK and will be located in Liverpool Street’s Broadgate Circle. It is reported that restaurant and bar Shiro is “hugely” popular in Hong Kong where the…
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9 November
World Cup hospitality sales to be down by 10% against 2018
Sales in UK hospitality venues during the 2022 FIFA World Cup are expected to be down by £44m compared to 2018, a new report from VoucherCodes has found. The 2022 World Cup Spending Report forecast that pubs, bars, and restaurants are set to make £395m in sales throughout the tournament,…
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9 November
Restaurant Associates acquires Rocket Food
Luxury event caterer Rocket Food has been sold to Restaurant Associates, part of Compass Group. The acquisition aims to increase Rocket and Restaurant Associates’ presence in the luxury hospitality sector across the UK. The transaction will also support Rocket with developing its sustainability and supply chain credentials and provide the…
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9 November
Hospitality sector urges govt to tackle recruitment crisis
UKHospitality, the BBPA, BII, the Institute of Hospitality and charity Springboard, have addressed MP Mel Stride in a joint letter calling on the minister’s support in an industry-wide recruitment campaign. The hospitality industry’s letter follows a survey that showed the current vacancy rate for hospitality businesses stands at 11% compared…
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9 November
Wetherspoon sales slow amid rising costs
JD Wetherspoon has reported sales growth amid “substantially higher” costs, with like-for-like sales dropping 1.1% in the five weeks to 6 November 2022 compared to pre-pandemic levels in 2019, having increased by 1.5% in the previous nine weeks. October has been a “slightly slower” month following rising costs of labour,…
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8 November
Shaftesbury launches The Theatre Cafe Diner in the West End
Shaftesbury has announced the opening of a new musical theatre inspired restaurant, The Theatre Cafe Diner, which has opened in Seven Dials. Located at 154 Shaftesbury Avenue, the diner-themed site spans 2,455 sq ft over two floors. It describes the venue as a “first of its kind” in the West…
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