Today’s news in brief – 04/11/24

Soho Coffee Co. has seen its losses widen by 60% from £2m to £3.2m in the year to 31 January 2024. The coffee chain’s parent company, BTC Group Holdings, has also reported that its other hospitality offering Euphorium Bakery has also sustained further losses, rising 27% from £944,402 to £1.2m in the period. 

Drinks sales are struggling to grow ahead of Christmas, as average sales in managed venues in the week to 19 October just about surpassed the same week in 2023, with fractional total growth of 0.1%. However, they soon slipped back, finishing 5% down in the week to 26 October, meaning that drinks sales have now been down in four of the last five weeks.  

Restaurant groups achieved LFL sales growth of 6% in delivery and takeaway in September 2024. The figure represents a slight strengthening from growth of 4.6% in August. Year-on-year trading has been comfortably above the rate of inflation in every month of 2024 so far. Groups were also buoyed by 0.7% growth in takeaway and click-and-collect sales.

Chaiiwala has opened a new cafe at Birmingham Airport. The Chaiiwala concession has been developed as a bespoke standalone kiosk following an investment of £500k and will be the company’s 115th store across the world. The 1,100 sq ft store will be located in the departures area at Birmingham airport and will create 20 jobs.