Today’s news in brief – 07/02/25
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Foodservice prices rose by 1% in December, the highest monthly jump since July 2024, raising fears of renewed price pressures for the hospitality sector. It comes despite year-on-year inflation dropping to 1.9% in the final month of the year. Oils and fats emerged as a category of concern as it saw an inflation rise of 5.7%.
Yum Brands has reported a 4% rise in revenues to $1.7bn (£1.3bn) for Q2. It comes as group-wide sales rose by 3%, including a 1% same-store sales decline. The operator of KFC and Taco Bell also saw its GAAP operating profit for the group rise 6% to $607m (£477m). The fast food chain opened 598 new restaurants across 57 countries during the period.
Claridge’s Bakery has recruited an executive baker ahead of its official opening this summer. The opening of Claridge’s Bakery will mark Hart’s return to the UK, where he will build on decades of travels and work across the globe – from San Francisco to Copenhagen and Mexico City.
Rooftop concept Agni will open at UYARE by Tharavadu in Leeds this spring. Designed to be an immersive drinking experience, Agni – meaning ‘fire’ in Sanskrit and Hindi – will have a cocktail menu curated in collaboration with mixologist Filippos Filippopoulos from Tabula Rasa. He drew inspiration from renowned establishments in Athens and New York.