Reasonable performance at Restaurant Group

6th January 2009, 10:11am

Garfunkel's operator The Restaurant Group said overall trading for 2008 was in line with its hopes despite like-for-like sales for the seven weeks to December 28 being down on last year.

The group, which has 354 restaurants and also trades as Frankie & Benny's, Chiquito, Bluebeckers and Brunning & Price, reported that sales for the 52 weeks were up by 1.5%, compared with the rate of 2.5% reported in mid-November.

The firm explained: "This is a creditable performance resulting from the group's distinctive market positions and value for money offerings."

However, despite the reassurance over 2008 trading, shares were more than 6% lower as investors worried about the declining sales trend going into the new year.

During 2008 the group opened 40 new restaurants and expects to open between 18 and 25 this year.

Related Articles:

• 02 Sep 2010 - The Restaurant Group profits soar as Brits continue to eat out
• 08 May 2009 - Sales drop 3% at The Restaurant Group

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