Today’s news in brief – 09/10/24

Loungers’ total revenues rose 19.2% to £178.3m during H1, as it opened a total of 17 new locations. It comes as Loungers’ like-for-like sales rose by 4.7% over the period. According to the operator of brands Lounge, Cosy Club and Brightside, its performance during H1 demonstrates its ability to “consistently outperform the broader UK hospitality market”.  

Marston’s total retail sales rose 5.8% in the preliminary period to 28 September, as the operator of 1,339 pubs saw its like-for-like sales increase 4.8% and outperform the broader market. The group said that both food and drink have shown “good momentum” over the period, with food sales “particularly encouraging”. 

Compass Group UK&I has generated £2.4bn in SLEV since 2021, according to the Social Value Portal. In 2023 a Social and Local Economic Value of £838.1m was achieved (an increase of 42% from £591m in 2021) as a result of the company employing 44% of its workforce within 15 miles of their homes. 

Arc Inspirations will open a Box venue in Sheffield this November. Located near Sheffield City Hall the new venue is part of  the ‘Heart of the City’ redevelopment project bringing an investment of £2.7m that will create 55 new jobs. Spread across two floors, Box Sheffield will feature 30 large HD TV screens and the biggest indoor screen in the city.