Itsu takes a bite out of its losses despite heavy growth investment September 30, 2018 The founder of fast food chain Itsu has claimed “food is the new fashion”, after the company saw its end-of-year losses fall despite investments in overseas expansion. Itsu, which is known for its Asian-influenced food, particularly sushi and rice dishes, saw raw sales growth of 10 per cent last year, with pre-tax losses dropping to £8.9m, [...]
Amazon reportedly planning 3,000 cashierless convenience stores September 20, 2018 Online retail giant Amazon is reportedly planning to open 3,000 cashierless stores over the next few years as it bulks up its bricks-and-mortar retail presence. Amazon could aggressively expand its Amazon Go brand with plans to open 10 locations by the end of this year, according to Bloomberg, with 50 locations in major cities by [...]
Amazon reportedly planning 3,000 cashierless convenience stores September 20, 2018 Online retail giant Amazon is reportedly planning to open 3,000 cashierless stores over the next few years as it bulks up its bricks-and-mortar retail presence. Amazon could aggressively expand its Amazon Go brand with plans to open 10 locations by the end of this year, according to Bloomberg, with 50 locations in major cities by [...]
Grind snaps up former Jamie’s Italian site in Greenwich September 6, 2018 Fast-growing London coffee and restaurant brand Grind has snapped up a former Jamie's Italian site in Greenwich for its biggest site to date. The site on Nelson Road was one of 12 restaurants shuttered by Oliver's company at the start of this year as part of a company voluntary arrangement (CVA). Grind now plans to [...]
Why Coca-Cola’s acquisition of Costa makes sense from a consumer perspective September 5, 2018 News of Costa’s sale to Coca-Cola dominated consumer headlines last week, as the fizzy drinks megabrand purchased the UK-based coffee chain for £3.9bn. Whitbread’s shares jumped more than 16 per cent following the news. Alison Brittain, the chief executive of Whitbread – Costa Coffee’s parent company – said the price paid by Coca-Cola was far [...]
Pret a Manger unveils £100m sales growth as coffee war heats up September 4, 2018 Sales at Pret a Manger grew by more than £100m in 2017 as the chain expanded globally and opened its 500th shop. Revenue soared by 13.2 per cent to £878.5m, driven by expansion into 58 new stores as well as strong like-for-like growth of 3.2 per cent. Read more: Coca-Cola moves for Costa coffee brand in £4bn [...]
Here’s how you can get a free iced coffee this week June 26, 2018 Pret a Manger is giving out free iced coffees this Friday to celebrate its new summer menu. Iced coffee is available from today at over 200 Pret branches, including most of its City locations. On Friday 29 June, staff will spend an hour giving away the cold drink for free. But there's a catch. Pret [...]
A class of their own: The head of Redington is on a mission to stop money from being a taboo subject June 18, 2018 "Let's play a game,” says Rob Gardner, opening up his bag of tricks. A jumble of colourful building blocks spill out onto the table in front of me. He tells me to make as many towers as I want, as high as I want. “I can’t believe I’m being paid to do this,” I [...]
The City’s Pret employees celebrate £1,000 bonus after JAB Holdings takeover May 29, 2018 Pret A Manger employees in the City today celebrated news that they would be receiving a £1,000 bonus after the company announced it will be acquired by German conglomerate JAB Holdings. “I only just heard,” said Mohamed Naim, 19, who works at a store on Fenchurch Street. “I still can’t believe it. It’s a bit [...]
Smell the coffee: Pret A Manger sold after 10 years with Bridgepoint May 29, 2018 Sandwich chain Pret A Manger has been sold by its private equity owners for an undisclosed sum, with reports suggesting it could be as much as £1.5bn. JAB Holdings has snapped up the ubiquitous cafe from its owners Bridgepoint, who have been looking to offload it for some months. JAB is acquiring its stake in [...]