see all jobs
Mixed cup for Coffee Republic
Coffee Republic has cut back its ambitious expansion plans after mixed results. Plans to open 40 new sites in the year to 2002 have been reduced to 30 after unveiling a slight reduction in pre-tax losses from £2.97m to £2.53m in the year to 31 March. Trading was buoyant, however, with an 8.4 per cent rise in like for like sales and turnover up an impressive 82 per cent, boosted by the opening of 20 bars. Three sites were closed though, causing an exceptional charge of £230,000. Chief executive Peter Morris, who replaced co-founder Bobby Hashemi in April, says that the aggressive roll out will continue despite the scaling down of plans: We begin the year will a lower number of bars than expected, however we are on track for another year of growth and are confident of the continued expansion of Coffee Republic.
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers