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Fri 26th Apr 2019 - Update: Just Eat, Starbucks, Beer + Burger Store
Just Eat reports orders up 21%: Just Eat, the marketplace for online food delivery, has reported group orders increased 21% to 61.4 million in Quarter One, the three months to 31 March 2019. Group revenues were up 28% to £227.9m. The company stated: “UK orders increased by 7.4% to 31.9 million. Q1 growth was impacted by three factors: A strong comparator, including Hungryhouse before integration and expected attrition of their customer base; the unseasonably warm weather in February; and Easter falling entirely in Q2 this year. We would expect an improvement in UK order growth during the remainder of the year. Outside the UK, orders grew by 40% to 29.5 million, fuelled by good growth in Canada, Italy, Switzerland and Ireland. Canada continues to be the standout performer delivering strong growth in the period and SkipTheDishes is on track to report its first full year uEbitda profit, demonstrating the route to profitability for delivery. We reiterate our guidance of full year 2019 revenue in the range of £1.0 billion to £1.1 billion and uEbitda in the range of £185 million to £205 million (both excluding Brazil and Mexico).” Peter Duffy, interim chief executive, said: “Just Eat is on the right path to be the leading hybrid marketplace for online food delivery and we are confident in the delivery of our strategy. Many of our international markets have performed very well in the period although, as expected, we saw softer UK order growth in the quarter. We are making good progress and continue to execute at pace.”

Starbucks reports 4% global like-for-like sales increases as it passes 30,000 stores: Starbucks has reported global like-for-like sales rose 3% in the Second Quarter to 31 March 2019. This was driven by a 3% increase in average ticket price. Americas and the US like-for-likes were up 4% whilst China and the Pacific like-for-likes rose 2%. “Starbucks delivered another quarter of solid operating results, demonstrating that our ‘Growth at Scale’ agenda is working,” said Kevin Johnson, president and chief executive. “We are especially pleased with our comparable store sales growth in our two lead markets, the US and China, where we are also continuing to drive strong new store development with industry-leading returns. With solid first-half financial results, we are on track to deliver on our full-year commitments. Starbucks remains focused and disciplined in the execution of our three key strategic priorities: accelerating growth in our targeted markets of the US and China, expanding the global reach of the Starbucks brand through our Global Coffee Alliance with Nestlé, and increasing shareholder returns. With our efforts to streamline the company and elevate the Starbucks brand, we are not only positioning the company to deliver more predictable and sustainable operating results but are also building Starbucks to be an enduring company that creates meaningful value for shareholders for decades to come.” The company opened 319 net new stores in Q2, yielding 30,184 stores at the end of the quarter, a 7% increase over the prior year. 94% of net new store openings were outside of the US while 88% were licensed. Consolidated net revenues of $6.3 billion grew 5% over the prior year. The company returned $3.2 billion to shareholders through a combination of share repurchases and dividends. 

Beer + Burger Store opens fourth site: Beer + Burger Store has opened its fourth venue, this time located at The O2. Founded by Jonathan and Andy Perritt in Willesden Green in 2016, Beer + Burger Store is a ‘next generation beer bar with a flavour packed food menu’. The O2 store has 20 taps serving a rotating list of craft beer alongside American inspired burgers and sides. Jonathan Perritt, founder of Beer + Burger Store, said: “Andy and I are so pleased to have opened at The O2. We’re excited about bringing incredible beer and burgers to London’s music fans and ICON Outlet shoppers. We’re looking forward to joining the line-up on the Greenwich Peninsula and supporting the local community, too.” Marion Dillon, leasing director for ICON Outlet and The O2, said: “Beer + Burger Store is an exciting addition and one of a number of operators bringing an exciting food theatre to the existing dining and entertainment offering at The O2. This, combined with the retail offer from ICON Outlet, creates a destination that appeals to visitors looking for a unique and inspiring multi-faceted experience.”

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