Premium subscribers to receive next New Openings Database and videos from Propel Multi-Club Conference on Friday: Premium subscribers will receive the next The New Openings Database on Friday (1 December), at midday. The database will show the details of 142 site openings, including which company has opened a site or its plans to open one in the future. It will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published on a monthly basis and Premium subscribers will also receive an 8,500-word report on the new additions to the database. Premium subscribers also receive access to five other databases: the Propel Multi-Site Database, produced in association with Virgate; the Propel Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database; the Who’s Who of UK Food and Beverage; and the UK Food and Beverage Franchisee Database. Premium subscribers will also receive all the videos from this month’s Propel Multi-Club Conference on Friday. They will be sent 12 videos at 9am. Premium subscribers receive all the videos from Propel conferences each year – around 100 in total. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription. Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before; regular video content and regular exclusive columns from Mark Wingett. 

Joe & The Juice expects an increase in turnover of 20% to 30% in 2023: Joe & The Juice, the juice and café bar chain, expects its turnover in 2023 across its circa 65-strong UK estate to increase by 20% to 30% this year. The company, which earlier this month secured new backing from US private equity firm General Atlantic that is thought to value the global circa 360-strong business at $600m (£489.1m), said its revenue for the year to 31 December 2022, exceeded £45m (£45,770,416) for the first time in the group’s history, corresponding to 66% growth compared to 2021 (£27,355,663). This surpassed management’s expectations of revenue growth above 30%. However, it posted a pre-tax loss of £5,141,031 for the year, against a pre-tax profit of £1,132,288 in 2021. The company said: “Headwinds from covid-19 at the beginning of the year had an adverse effect on activity levels, as stores across the country were either closed or had to operate under restrictions due to the omicron strain. At the end of the first quarter, when restrictions were lifted, our juicers’ hard work and dedication resulted in our business scaling up rapidly, hence demonstrating the resilience and adaptability of our operating model. By the end of 2022 the company had 65 stores in the UK, and ten new stores were opened in 2022. No stores were closed in 2022 compared to 1 closure in 2021. The group’s loan agreement has been renewed. Based hereof, it is management’s assessment that the group’s cash positions are sufficient for the entire financial year 2023 to support current operations and strategic growth initiatives in the UK despite the negative equity in the company. During 2022, several mid- and long-term strategic initiatives have been implemented to strengthen the company’s position even further in the future. Several digital initiatives have been launched resulting in rapid growth in the number of digital users and sales. The company has high expectations for the digital transformation and expects a further increase in sales through digital channels. Joe & The Juice’s near-term growth strategy is centered around profitable and sustainable growth, obtained by building scale within existing markets of focus. This strategy builds upon existing brand awareness and provides scale benefits to the Joe & The Juice operations. Complementary to opening new stores, the company intends to continue the same-store¬ sales growth in existing stores. Management expects an increase in turnover of 20% to 30% in 2023 compared to 2022.” Earlier this month, US private equity firm General Atlantic reached an agreement to buy a majority stake in Joe & The Juice. The deal will see further funds injected into the business to help with its growth in international markets, particularly in the US, but also the UK, and also reduce its debt pile. 

Wingstop UK expects to hit FY revenue of £65m in 2023: The Lemon Pepper Holdings, which is rolling out the Wingstop brand in the UK, expects revenues to reach about £65m this year, with like-for-like sales growth in double digits. The 38-strong business told The Times that more than 11 new sites have been lined up for 2024, including additional dark kitchens to meet demand online, but competition for sites is fiercer. The business, in which the US brand owner acquired a 20% stake in 2021, plans to have 40 UK sites operating by the end of the year. Its next site, and second site, in Edinburgh launches on Monday, 11 December. Earlier this month, Wingstop said its debut UK restaurant was hitting record sales volumes and that the UK is a “playbook for its future restaurant development”. The US quick service restaurant chicken brand opened its first UK site in London’s Shaftesbury Avenue. It has recently added Dudley, Croydon, Hounslow and Clapham to its openings pipeline.

Marston’s appoints Rachel Osborne as new non-exec director: Marston’s has announced the appointment of Rachel Osborne, the former chief executive of Ted Baker, as a new independent non-executive director. Osborne is currently a non-executive director and chair of the audit committee at Ocado Group plc. Osborne will join the Marston’s board as an independent non-executive director and chair of the audit committee with effect from 23 January 2024. She will join its nomination and remuneration committees at the same time. The company said: “In addition, Rachel is a qualified Chartered Accountant and brings a wealth of recent and relevant financial, consumer and retail experience to the board, having previously served as the chief financial officer of multiple listed companies including Ted Baker, Debenhams plc and Domino’s Pizza Group.” Osborne’s appointment comes Marston’s announces that Matthew Roberts, who has served as a non-executive director and chair of the audit committee since 2017, will retire from its board with effect from 23 January 2024, after conclusion of the company’s AGM. The company said: “The board extends its thanks to Matthew for his valuable contribution and hard work during his time with the company.” William Rucker, chairman of Marston’s, said: “On behalf of the board, I am very pleased to welcome Rachel to Marston’s. She brings strong financial and audit experience as well as broader commercial and operational expertise which will add considerable value to our board. I would also like to thank Matthew for his valuable contribution over the past seven years and wish him all the best for the future.”

Shaftesbury reports strong start to Christmas period: West End landlord Shaftesbury Capital has reported high footfall across its prime portfolio with a strong start to the Christmas trading period. It said that its customers are reporting sales in aggregate 12% above 2022 levels and 16% above 2019 levels. It said it was seeing sustained demand across all uses; leasing activity in H2 totalling 220 transactions representing £15.6m of rent, 6% ahead of 30 June 2023 ERV. Year to date, it said that 440 leasing transactions were completed, representing £30.2m of rent, 9% ahead of 31 December 2022 ERV and included the introduction of 50 new retail and hospitality brands and concepts. Ian Hawksworth, chief executive, said “Our excellent performance has continued into the second half, with a strong start to the Christmas trading period. The West End is one of the most vibrant global destinations with an unrivalled concentration of entertainment and cultural attractions. Footfall remains high and customer sales are tracking 12% ahead of last year. There is excellent leasing momentum across all uses with 220 leasing transactions signed so far in the second half, at rents on average 6% ahead of June 2023 ERV and a strong leasing pipeline. Despite the uncertain macroeconomic backdrop, our prime West End portfolio continues to demonstrate its resilience and appeal. Backed by our strong balance sheet, we look forward with confidence with a focus on delivering further growth and attractive returns as the leading central London mixed-use REIT.” The company said: “Our hospitality offer continues to evolve with the opening of Italian pasta concept Notto on Henrietta Street, Covent Garden and Bébé Bob in Soho, located opposite its sibling flagship restaurant Bob Bob Ricard. Filipino concept Donia opened on the upper floor of Kingly Court, Carnaby while one of China’s leading pastry brands, Master Bao is set to open in Chinatown.”