Loungers accelerates reopening programme following positive response
The bar group now expects to have its entire estate of 165 sites open again by August 5
Company
Loungers PLC
LON:LGRS
Loungers PLC is an operator of café/bar/restaurants across England and Wales under two distinct but complementary brands, Lounge and Cosy Club. It is the only growing all-day operator of scale in the UK, with a strong reputation for value-for-money and sites that offer something for everyone regardless of age, demographic or gender. The company operates successfully in a diverse range of different sites and locations across England and Wales.
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Loungers raises £8.3mln in premium placing to defend against pandemic disruption
The bars group said the funding and its existing finances was enough to maintain the business for around 46 weeks of closure
Loungers not looking to rest as it envisions three-fold expansion
The company, said it outperformed the sector thanks to its “unique” trading model which combines elements of coffee shop, pub and restaurant
Loungers to keep stretching across England and Wales on Wednesday
Also on Wednesday's agenda are services PMI figures and a possible FTSE reshuffle in the air
Loungers growing at more than leisurely pace as roll-out continues
The company said in a trading update it is on track to open 25 new sites in the current financial year
Loungers earnings jump in first annual results since IPO
"Our new financial year has started well and our roll-out strategy for both brands is on schedule,” said chief executive Nick Collins.
FTSE 100 closes higher as pound drops on Hard Brexit fear after parliamentary suspension
The Queen has agreed to Prime Minister Boris Johnson's call to prorogue the UK parliament
Loungers hopes for smooth ride on Wednesday as it reports maiden finals
The middle of the shortened week will also bring updates from mid-cap firms Diploma and WH Smith
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Lloyds, RBS, Barclays and other banks brace for bigger PPI bill as claims deadline looms
The week ahead includes results from Hays, Bunzl, Gym Group, Loungers, Amigo, Hunting and Diploma
Loungers sitting pretty after strong trading update
For the year ending 21 April 2019, the cafe and bar chain recorded revenues of £153mln, up 26.4% on the prior year, while like-for-like sales had risen 6.9%
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FTSE 100 closes higher led by defensive stocks
Footsie closed up 39 at 7,259, while mid-cap cousin FTSE 250 went the other direction, shedding over six points to close at 19,065
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Aviva and CMC Markets in spotlight for busy Thursday
Investors look forward to a strategy update from Aviva's new boss, meanwhile, they are braced for CMC Markets results after the recent profit warning.
Buy Loungers for 'sector-leading growth and returns', says Peel Hunt
“Loungers’ success is built on its ability to trade well throughout the day, week and year, with a broad product range and customer base,” the Peel Hunt analysts said
Loungers could triple in size, says Liberum as it initiates at ‘buy’
The City broker's analysts said the firm’s low capital and operating expenditure would drive “high returns and fast paybacks” for investors