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Restaurant Group sees 'very encouraging' recovery in sales
StockMarketWire.com
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Wagamama owner Restaurant Group said it had seen a 'very encouraging' recovery in sales since UK lockdowns eased.
In the five weeks to 16 May, following the easing of restrictions across the UK, Wagamama sites traded at about 85% of comparable 2019 sales levels.
Pubs also traded at about 85% of comparable 2019 sales levels, while leisure sites traded at about 60% of those levels, reflecting a more limited number of outdoor covers.
'The group currently has approximately 350 sites open across its Wagamama, pubs and leisure businesses, representing 95% of their respective combined estates,' Restaurant Group said.
'The concessions business currently only has four sites trading, given restrictions regarding international travel.'
'The board has been very encouraged by the trading performance seen so far in 2021.'
'While the environment for the remainder of the year continues to remain uncertain, the group is well positioned across its diversified brand portfolio to benefit from the sustained removal of government restrictions.'
Story provided by StockMarketWire.com
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