Now Reading: Speciality Restaurants bets on same-store sales, 25 new outlets
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Speciality Restaurants bets on same-store sales, 25 new outlets
Speciality Restaurants bets on same-store sales, 25 new outlets
Speciality Restaurants, operator of Mainland China and Oh! Calcutta, reported a 17% year-on-year rise in revenue for the June quarter, with profit after tax at Rs 6.9 crore. Same-store sales jumped 11.35%,…
The Story in Brief
Speciality Restaurants, operator of Mainland China and Oh! Calcutta, reported a 17% year-on-year rise in revenue for the June quarter, with profit after tax at Rs 6.9 crore. Same-store sales jumped 11.35%, which new CEO Avik Chatterjee attributed to a shift from simply adding outlets to improving existing store performance.
The company plans to open 25 outlets this financial year, including at least 10 restaurants and 10 each under Walters Burger and Sweet Bengal. Chatterjee identified inflation in ingredients, rising rentals, high aggregator commissions, and skilled labour shortages as the top challenges. Despite this, he expects second-half growth to beat historical performance.
The Indian Opinion
The narrative that all Indian restaurant chains are wilting under slowing consumption is too sweeping. Speciality Restaurants' double-digit growth shows that focusing on same-store efficiency can still yield results. But the real test will be whether it can sustain this while opening 25 outlets in a high-cost environment. How many of those new stores will remain profitable past the first year?
Source: retail.economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
