Today’s news in brief – 23/10/24

Starbucks has suspended its FY guidance for 2025 after Q4 revenues dipped 3% to $9.1bn, as a result of global sales falling 7% during the period. In light of this, newly-appointed CEO Brian Niccol said “it’s clear we need to fundamentally change our recent strategy”. The group’s Q4 performance was primarily driven by softness in North America’s revenues. 

75% of the UK’s hospitality workers are unconcerned about the automation of their roles in the future. According to the recent report by YouGov, only 28% are concerned about the impact of new technologies like AI in the future. This is thought to be because increased automation may be perceived as a way to “resolve frustrations” within the sector.   

Stonegate Group has invested £1m in a new Leeds concept. Rita’s Beerhall and Ballroom will be located in the former Walkabout site in the city centre, and has been called a “beerhall for cocktail lovers”. The aim is to make the venue popular for its seven day a week programme of live music and entertainment. 

Black Bear Burger will be opening a new site in Camden on Saturday 26 October, marking its sixth location in London. This branch will be a smaller, quick-service format of its Exmouth Market and Brixton branches. The venue will be based inside of Boxpark Camden and will have 50 covers and a mix of indoor and outdoor seating split over two levels.