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Carluccio’s to launch more outlets in UK and Dubai
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10.9.2009 |
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Carluccio’s, the quoted operator of Italian restaurants with their own in-store delicatessen, is looking for its first sites in Scotland as it seeks to become a nationwide chain.
The company’s 45 stores, with the exception of two in Manchester, are all located in the South and South West of England and the Midlands, with the most recent openings being in Bristol, Canterbury and, last week, Exeter. But Simon Kossoff, managing director, said that he had spent the past six months looking farther afield and was keen to find sites in cities including Edinburgh and Glasgow. “We think we’re now in a position to go nationwide and have the infrastructure to do so,” he said.
Carluccio’s, which opens about five stores a year, issued a bullish trading update yesterday, reporting an 8 per cent rise in turn-over in the year to September 28, despite “a challenging year for the economy as a whole”.
Although the company, which was founded by Antonio Carluccio, the chef, does not break down like-for-like sales excluding new openings, it said that it expected to deliver full-year pre-tax profits “slightly ahead” of expectations. Analysts pushed up their forecasts from £4.5 million to about £4.7 million. The only black spot was the need to write down the value of two of its stores because of the trading climate. However, it said that this was a non-cash charge that would have no impact on the group’s cashflow.
Mr Kossoff said that the company had eschewed the two-for-one promotions that have become prevalent among most of its rivals. Although it had discounted in January and February, he said that it had gone “discount-free” in March with the exception of occasional tactical promotions.
“We want to avoid damaging our brand equity,” he said. “Rather than pursuing short-term discounts, we prefer to adopt a long-term view of protecting the brand.”
Analysts have estimated that the cost on the company of new tipping rules, which prevent employers from using tips to contribute towards the minimum wage, at £1 million. However, Mr Kossoff said that he hoped to be able to offset any impact through measures including menu changes and better buying.
As well as expanding in the UK, Carluccio’s has two overseas franchises. While the store in Dublin is likely to remain its only Irish presence until the economy recovers, it will open its second and third stores in Dubai next year, and is looking for sites in the wider UAE and Qatar.
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Source:business.timesonline.co.uk |
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