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Thu 6th Jan 2022 - Roisin Currie named as next Greggs chief executive
Roisin Currie named as next Greggs chief executive: Greggs has announced Roisin Currie, currently Greggs retail and property director, will replace Roger Whiteside as chief executive to be effective from the date of the company’s annual general meeting in May 2022. The company stated: “Roger Whiteside has given notice of his intention to retire from the company and it has been agreed that Roger will step down from the board at the close of the AGM, but will remain available to support the transition process until his notice expires on 5 January 2023. In the interim period pending appointment as chief executive, Roisin will be appointed as chief executive designate and as an executive director with effect from 1 February 2022. Roisin currently holds the position of retail and property director, with responsibility for Greggs’ retail operations across the UK and its central support team. Additionally, Roisin leads the development of the Greggs shop estate and its growing delivery business, in partnership with Just Eat. As a member of the company’s operating board, she has played a key role in the development of the strategic plans set out last year. Prior to joining Greggs in 2010, Roisin worked at Asda where she held people director roles responsible for the organisation’s retail and distribution operations. She is a trustee of the Greggs Foundation and is chair of the Employers Forum For Reducing Re-offending.” Ian Durant, Greggs chairman, said: “Roisin has played a central role in the success of Greggs as it has developed as a multi-channel food-on-the-go business and I am delighted that she will lead the next phase of our growth as chief executive. She has deep experience of our culture and our strategic plan, and will lead with energy and character. Roger Whiteside has been an outstanding chief executive and I wish him well for the future. Roisin and I look forward to working with Roger to ensure a smooth transition.” Roisin Currie said: “I am delighted to be appointed as chief executive at a time when Greggs has so much potential ahead of it. Having been a senior executive in the business for twelve years I understand our values-driven approach and the contribution that our 25,000 colleagues make each day. We have created a plan for strong growth and further strategic development of Greggs and I look forward to driving this in the coming years.” Roger Whiteside, chief executive said: “Greggs is a fantastic organisation with a very strong team. Roisin is a great leader and has played a key role in the development of the business over many years, most recently in shaping our ambitious plans for further growth. I look forward to supporting her in the transition to her new role.”

Full speaker schedule for Restaurant Marketer and Innovator this month unveiled: The full speaker schedule has been unveiled for the Restaurant Marketer & Innovator event held later this month. Click here to view the full schedule. Operators taking part include: The Alchemist, Coco di Mama, Vapiano, Individual Restaurant Company, Anglian Country inns, Compass, Dishoom, BrewDog, Elior UK, Punch, Greene King, Just Eat, TGI Fridays, Big Mamma Group, Gamechangers Hospitality Investments, Lane7, Mission Mars, Wing Shack, London Cocktail Club, Incipio Group, Kerb Food, PPHE Group, Hilton, Pho, Ennismore, Eataly, Pizza Pilgrims, Le Pain Quotidien, Bone Daddies Group, YO!, Rum Kitchen, New World Trading Company and Arc InspirationsOne day operator price is £345 plus VAT, two-day operator price is £575 plus VAT. One day supplier rate is £445 plus VAT, two-day supplier rate is £795 plus VAT. Email jo.charity@propelinfo.com to book.

Greggs reports results will be ahead of expectations: Greggs has reported its full year outcome will be ahead of expectations. The company stated: “Sales for the financial year to 1 January 2022 were £1,230 million, a two-year increase of 5.3% compared with the equivalent period in 2019. Across 2021 two-year like-for-like sales in company-managed shops were 3.3% lower than seen in 2019. In the fourth quarter of 2021 two-year like-for-like sales in company-managed shops grew by 0.8%, with a strong performance in October being followed by more challenging conditions as consumers responded to precautionary messages relating to the new coronavirus variant. Our seasonal lines were, again, popular with consumers and we sold 6.7 million of our shop-baked mince pies over the festive season. Our range continues to evolve in line with changing consumer tastes and dietary choices so the launch of our new Vegan Festive Bake was a natural next step. The fourth quarter results were achieved against a backdrop of continued disruption to staffing and supply chains. Our teams across the business have done a magnificent job coping under difficult circumstances and in recognition of this we brought forward the planned 2022 pay awards for our operational teams by five months. During the year we opened 131 new shops (including 50 franchised units) and closed 28, growing the estate to 2,181 shops as at 1 January 2022, 375 of which are franchised shops operated by our partners. Our delivery service, in association with Just Eat, is now available from 1,000 Greggs shops.” Chief executive Roger Whiteside said: “Greggs has made great progress in 2021 despite tough trading conditions. Our teams across the business have done a magnificent job coping under difficult circumstances and, to recognise their hard work, we have brought forward the planned 2022 pay awards. We enter 2022 with a strong financial position that will support our ambitions to accelerate the rate of growth in our shop estate whilst developing new digital channels and extending the trading day. Whilst conditions in the first few months of 2022 are likely to remain challenging, we are confident that we are well placed to make progress on the many attractive opportunities that lie ahead.”

Ten Entertainment Group reports record profit every month since June: Ten Entertainment Group, the operator of 46 bowling and family entertainment centres, has reported +32.4% sales growth since May compared to the 2019 financial year with record profit delivered every month since June. The company stated: “The remarkable strength and resilience of the group has been demonstrated by the excellent sales recovery and growth since reopening on 17 May. Once restrictions were fully lifted on 19 July, sales and profit increased to record levels and were consistently strong for the balance of the year. Sustained high consumer demand and tight cost controls are expected to result in FY21 profit at the top end of market expectations and with lower net bank debt. Trading during December remained good, albeit understandably there was some softening of demand from large groups and parties driven by government messaging and the impact of the implementation of constraints in Wales and Scotland. For the first week of FY22, immediately following Christmas, we returned to the previous trend, delivering the group’s highest ever sales for the Christmas and New Year period. Given the continuing strength of demand and the resilience of our customer offer, management’s view for FY22 remains optimistic. This will still depend on how the government’s covid response unfolds. Absent any further government restrictions, management remain confident that their strategy will continue to deliver strong long-term growth and profitability in the year ahead.” Chief executive Graham Blackwell said: “It reflects the strength of our business, our people and our improved customer experience that TEG has delivered record trading months since May and returned to full-year profitability in 2021 despite closure in the first half of the year. I am grateful for the hard work of all our teams, suppliers and partners who have contributed to this very strong recovery, and I thank our customers for their continued support and loyalty. We are well set to deliver continued growth and success in 2022.”

St Petersburg-based restaurant and wine bar concept to launch London site: Wong Kar Wine, an Asian restaurant and wine bar concept based in St Petersburg, Russia, is to make its debut in the UK, in London’s Soho. The concept, which is the brainchild of Madina Kazhimova and Anna Dolgushina, has secured the former Corazon site at 29 Poland Street, for an opening later this spring. Launched on St Petersburg’s Fontanka river embankment in 2014, the concept combines “bright Thai cuisine with artisanal natural wines”. Guy Marks at CWM acted for Wong Kar Wine on the Soho deal, while Nick Weir of Shelley Sandzer acted for Corazon Restaurants. Last November, Corazon, which also previously operated Tacos Corazon at Westfield London, posted on Instagram: “It is with a heavy heart that we can finally confirm, Corazon will not reopen. We left no stone unturned in our attempt to survive covid’s impact on our business, but we have had to accept that the mountains of covid debt which have accrued cannot realistically be cleared from such a limited space, especially with the added challenge of increasing costs in our sector. Reluctantly, we have sold our lease to a new party who will open in 2022. Covid can go sit on a cactus. We are proud of all we have achieved. We close with dreams of what comes next – though perhaps not Corazon, as you know it. But we promise you this is not the end. We are writing our next chapter.”

Firms to raise prices as inflation fears grow: A record number of companies are planning to raise prices because of supply chain disruptions and increased raw material and energy costs, a closely watched survey has revealed. The Times reports that according to a poll from the British Chambers of Commerce, 58% of firms expect to charge their customers more for goods and services over the next three months, 1% anticipate cutting prices. The reading is the highest in the history of the BCC survey and will intensify concerns that inflationary pressures are building even before the predicted rise in electricity and gas bills in April. The BCC surveyed 5,487 businesses online between November 1 and 22, before the emergence of the Omicron variant, the government’s Plan B restrictions and the Bank of England’s decision to increase interest rates from 0.1% to 0.25%. The BCC said its survey showed that the recovery had “stalled” in recent months because of the “unprecedented” pressures on overheads. Some firms are still struggling to recover from heavy losses incurred since the start of the pandemic, it added. The lobby group warned that the economic recovery had slowed in the final three months of last year. Some of its members had reported a “troubling” weakness in cash flows, which left them “more exposed to the economic impact of Omicron, rising inflation and potential further restrictions”. “The record rise in price pressures suggests that a substantial inflationary surge is likely in the coming months. Rising raw material costs, higher energy prices and the reversal of the VAT reduction for hospitality are likely to push inflation above 6% by April,” the BCC said.

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