Revolution Bars hit by Omicron over Xmas but sees FY in line
By Frank Prenesti
Date: Thursday 20 Jan 2022
(Sharecast News) - Revolution Bars Group said it was confident of meeting full-year expectations despite a decline in trade over Christmas as Covid Omicron cases surged.
The company, which owns Revolution and Revolucion de Cuba brands said like-for-like sales from July 19 to January 1 rose by 1.4% from 2019 before the pandemic struck.
Sales for the six-weeks to January 1 were down 23% on a two year basis after government restrictions to curb the Omicron variant were imposed.
However, total bookings over the Christmas period rose 19% driven by younger customers.
The company said it was "monitoring closely the inflationary pressures building across all elements of the supply chain and are taking action to mitigate these where possible".
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10 Lower Thames St,
London EC3R 6EN