Tesco scraps ‘food-on-the-go’ stores: Tesco’s move into the ‘food-on-the-go’ market is to be abandoned, The Daily Telegraph has reported. The company is planning to shut its two “Food-to-Go” stores in London. Tesco first opened a small store on Philpot Lane, within walking distance from the City’s Walkie Talkie skyscraper, in September 2014 with much fanfare. It followed it up with a smaller store on Villiers Lane, near Charing Cross train station, last March. But less than a year after opening its second shop, a spokesman confirmed that the two stores would close their doors on 4 March. The 1,000 sq ft store – one of the smallest shops in Tesco’s vast UK estate, was aimed at City workers with 100 different sandwich options, soups and ready meals. The British sandwich market is worth £4.4bn as more people buy their lunch, rather than making it at home. The store was also designed to be “more upmarket” and attempted to copy Pret A Manger’s cafe culture with “exposed brick and softer lighting”, the supermarket said at the time. The shops have attracted insufficient business to cover their high rents. Last March Tesco justified the opening of its second Food-to-Go store after receiving positive feedback from “time conscious office workers”. The first store was opened with a tie-up with Fred’s while the second branch opened Burrito Kitchen. “We’re always looking for opportunities to improve our convenience offering in London which is why we trialled two food to go concept stores”, a spokesman said. “As part of the trial, our customers told us they prefer the wider range of products offered in our Express and Metro stores Closing these stores was a difficult decision and we will of course do everything we can to find alternative roles within Tesco for colleagues affected by this decision.” Tesco said that it would be consulting with the 22 staff employed at the branches to find them alternative roles within the business.

Fever-tree reports sales up 77% in Second Half: Drinks company Fever-tree has reported that sales in the second half of 2015 will be ahead of the prior year period by 77%. Full year revenue is expected to be circa £59.2 million, reflecting growth of 71% on 2014. The company stated: “Sales in the UK performed exceptionally well in the second half of 2015 and full year revenue is expected to be circa 84% ahead of 2014. Sales performance has been strong in both the On-Trade and Off-Trade channels, with notable growth achieved over the Christmas period against strong comparatives from 2014. In the USA, the momentum seen in the first half continued during the second half of 2015 and as a result full year revenue is expected to be circa 65% ahead of 2014. The strong sales growth in the Rest of Europe achieved in the first half accelerated in the second half of 2015 and it is anticipated that full year revenue will be circa 66% ahead of 2014. Rest of World sales growth in the second half of 2015 remained strong and full year revenue is expected to be circa 50% ahead of 2014. Over the period, Fever-Tree’s free cash flow generation and balance sheet have remained strong. Year-end net cash position is anticipated to be in line with Board expectations, with significant cash balances still to collect given the strength of trading over the Christmas period. Given the strong sales in the final two months of the year, the Board anticipates that the outcome for the full year will be comfortably ahead of its expectations.” Tim Warrillow, chief executive of Fever-Tree, said: “We are encouraged to report another positive trading statement. Fever-Tree continues to trade strongly, buoyed by a festive period significantly ahead of last year. We have continued to widen and deepen our penetration with growth across our product range in all our regions. We remain well positioned in our markets and look forward to the future with confidence.”