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Restaurant Group reports 3% drop in like-for-like sales

25 January 2018 by
Restaurant Group reports 3% drop in like-for-like sales

The Restaurant Group has reported a 3% drop in like-for-like sales.

The group, which operates 497 restaurants around the UK across brands including Frankie & Benny's, Chiquito and Coast to Coast, also saw a 4.4% decrease in turnover for the 52 weeks ending 31 December 2017.

In 2018, the Restaurant Group plans to continue pursuing its four-stage strategy. It aims to re-establish the competitiveness of its leisure brands by investing in price, food quality and marketing, kick-starting new initiatives, grow its pub and concessions business, and build a "leaner, faster and more focused organisation".

Andy McCue, chief executive of the Restaurant Group said he plans to open 10 pubs a year - adding to its 60 existing sites.

McCue added: "In 2017 we made solid progress against our strategic initiatives, resulting in improved volume momentum in our leisure business, a lower cost base and a more focused growth plan. While the market has softened, we continue to benefit from strong cash generation and a healthy balance sheet."

Sales slip at The Restaurant Group >>

The Restaurant Group puts six more sites up for sale >>

The Restaurant Group to build a "leaner organisation" >>

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