Some weekend thoughts:
Restaurant Group, Cheap and Cheerful
The Restaurant group, which owns chains like Frankie & Benny’s and Chiquito, is one of the biggest fallers this year, down 46% year to date Analysts downgraded forecasts after management reported 1.5% softer like-for-like sales and “challenging conditions in the first 10 weeks of 2016”. Rollout continues and 44 new sites were opened last year and 10 closed, bringing the total number of Frankie & Benny’s to 506. A similar number of new openings is expected for this year and this brand represents 52% of group revenue.