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Consumer spending slowdown hurts Tootsies

13 July 2005
Consumer spending slowdown hurts Tootsies

Weakening consumer spending has led to sales stagnation at burger chain Tootsies, according to owner's Urban Dining.

In the company's preliminary results announcement on 19 April, chairman Glen Tomlinson said current trading at the 16-strong high-street chain was progressing satisfactorily.

However, a trading statement today revealed that the public's growing reticence to spend was now affecting the group's eight shopping centre sites however.

Tomlinson said this and several delayed openings would have a negative effect on the company's financial results for the year.

Urban Dining will open six new Tootsies in the second half of this financial year, and the board remains confident the chain can be grown to 100 sites within five years.

The company is on the look out for further acquisitions, and is believed to be in talks with other restaurant operators over a possible deal.

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