Revolution raises red warning flag
26 March 2004 by Helen Adkins
Inventive Leisure, owner of vodka bar chain Revolution, is to bow to intense high-street pressure and introduce discounting, following a profit warning issued this week.
The operator, which has 42 licensed premises nationwide, with 36 of them trading as Revolution, announced in its interim results that sales had been hit by fierce competition.
Group turnover for the 26 weeks ended 27 December 2003 increased by 17% to £20.4m, reflecting the growth of the estate. However, sales on a like-for-like basis declined by 8.5% in the early part of the first half-year and by 14.6% in the three weeks ending 13 March 2004.
This brings the average decline in the second half so far to 10.4%.
