Garfunkel’s restaurant owner profits thanks to bad weather
THE RESTAURANT GROUP, the owner of the Garfunkel’s and Frankie & Benny’s chains, said it enjoyed “a significant uplift” in sales since the end of February, as the wet weather prompted more people to visit retail parks and watch a film.
The company said like-for-like sales were up four per cent in the first 19 weeks of 2012 compared to the same period last year. Total sales rose eight per cent.
In February it reported disappointing sales for the first two months of the year, but predicted at the time that it would see a turnaround as inflation eased and discretionary spending increased.
“The group is trading in line with expectations and is on track to report a strong first half performance,” chairman Alan Jackson said at the group’s general meeting yesterday.
The company runs around 400 restaurants and pub restaurants in the UK and opened three new sites in the quarter. It plans to storm ahead with 25-30 new sites this year, with over half opening under the Frankie & Benny’s brand.
Jackson said its “Coast to Coast” restaurant, which opened in Brighton in November was also performing well.