Restaurants
The latest news and updates on restaurants, 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 -13 August
Riots drag down hospitality sales by 10%
Violent disorder and the nationwide threat of rioting last Wednesday (7 August 2024) caused a significant 10% drop in sales as businesses closed and customers stayed away, according to CGA by NIQ. The impact on sales in towns where rumoured protests were planned to take place was as high as…
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13 August
Soho House Q2 revenues rise 5.6% to $305m
Global members club operator, Soho House and Co, has reported that total revenues rose 5.6% year-over-year to $305.1m (£238.5m) for the second quarter to 30 June. It comes as the group gained approximately 2,969 new members in the second quarter, taking its total members to 264,540. This shows a 6.6%…
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12 August
Kricket to launch fifth London site in Shoreditch
Modern-Indian restaurant group Kricket has confirmed plans to launch its fifth site in late 2024. Its second opening this year, co-founders Rik Campbell and Will Bowlby will open a 120-cover all day restaurant and bar in Shoreditch. The duo founded Kricket in 2015 as a pop-up in a shipping container…
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12 August
White Rabbit Fund acquires Island Poke
Hospitality incubator White Rabbit Fund has announced the acquisition of Island Poke’s assets, having recently undertaken a voluntary restructuring. Island Poke, which serves Hawaiian poke bowls, opened its first permanent restaurant in Soho in 2016. However, due the economic turmoil of the pandemic coupled with the impact of inflation, the…
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9 August
Itsu to open first shopping centre site in Manchester
Itsu, the Asian-inspired restaurant brand with over 80 locations across the UK, has announced it is set to open its first shopping centre site in the North at retail and leisure destination, Trafford Centre. Set to open in Autumn 2024, the new Trafford Centre location will take over a 2,900…
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9 August
The Salad Project to open sixth site on Fenchurch Street
The Salad Project will be opening its sixth location on London’s Fenchurch Street on 16 August. Fenchurch Street will not only serve as one of the chain’s healthy lunch spots, but will also house The Salad Project Training Academy and the SP Testing Lab for “the latest recipe development and…
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8 August
Deliveroo returns to profit in H1 amid ‘encouraging’ consumer behaviour
Deliveroo has returned to profit following a strong performance in H1, as profits hit £1.3m for the period, up from a loss of £82.9m the prior year, as improved consumer retention and growing retail partnerships boosted sales. GTV was up by 6% to £3.7bn, with a constant currency GTV growth…
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8 August
Tortilla unveils its first app with new loyalty scheme
Tortilla has launched its first ever app, which includes a new loyalty programme – The Burrito Society. This latest announcement builds on the group’s new strategy which focuses on investing in technology along with the Tortilla brand to drive growth. The new app, which climbed to second spot in the…
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7 August
Yum Brands revenue hits $1.7bn in Q2
Yum Brands, which owns KFC, Taco Bell, Pizza Hut and Habit Burger Grill, has reported a 4% revenue growth to $1.7bn (£1.3bn) for the second quarter ended 30 June 2024. Worldwide system sales grew 3% including a 1% same-store sales decline. GAAP operating profit for the group increased 6% to…
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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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