News

Today’s news in brief – 09/11/23

Domino’s expects its underlying EBITDA for FY23 to be between £132m and £138m, as Q3 like-for-like sales grew by 3.7%. The pizza chain experienced a 5.5% increase in Q3 sales, attributed to the acceleration in new store openings. Domino’s plans to open at least 60 new stores by the end of FY23. While year-to-date total orders grew by 1.5%, Q3 total orders fell by 1.2% to 16.7 million, with a 6.3% downturn in delivery orders due to softer demand. However, Q3 collection orders continued to grow by 8.4%.

Admiral Taverns reported an EBITDA of £55.8m for H1 FY23, reflecting strong growth. The second half of the year, however, faced challenges due to a faltering economy, inflationary pressure, and the energy crisis. Turnover reached £182m, compared with £154.3m for the same period last year. Admiral invested £27.7m in Capex during H1, with plans for further investment in FY24 to enhance the retail offer of tenanted and operator-managed pubs. 

Restaurant Associates has appointed Adam Thomason as its new culinary director. Thomason, who holds a Master of Culinary Arts degree, returns to the company after several years and currently leads the England Culinary Team as captain. He expressed excitement about heading up the talented culinary team at Restaurant Associates and looks forward to introducing new ideas, concepts, and opportunities in the coming weeks. 

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Marlowe Bar and Restaurant has opened at Montcalm East hotel in East London, offering an all-day dining and drinking experience across three spaces. Inspired by playwright Christopher Marlowe, the venue’s interiors evoke the era of Hoxton and Shoreditch as bustling entertainment neighbourhoods, featuring rich velvets, bold prints, wooden panels, and dimly lit candle lighting.

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