Patisserie Valerie sales up 16% as store openings continue

first_imgPatisserie Valerie owner Patisserie Holdings has reported double-digit increases in revenue and profits.Announcing its first half-year results to 31 March 2017, the business reported total revenue up 11% year on year to £55.5m and pre-tax profits up 15.7% to £9.7m.Revenue growth was driven by Patisserie Valerie – up 15.7% to £40.4m – with sales from the group’s other brands up 0.6%.The business said it was continuing to target 20 new store openings per year, and had opened 10 in the past half-year. These are a mix of counter and full-menu offerings in locations ranging from high-streets, retail parks and concessions. Patisserie Holdings also opened its first store under the Philpotts brand it acquired in 2014.“All of our new openings are profitable from the first week of trading and are all funded from operating cash flows,” stated the company.Reporting a strong seasonal sales period, the company said sales from its winter menu were up more than 160%, while it had sold more than 103,000 mince pies. Over the half-year, the group’s Cakeclub loyalty club membership rose by 22,000 members to 383,000.The results announcement comes a month after the business kicked off a 12-week trial to supply 12 Sainsbury’s stores with Patisserie Valerie (PV) product sold in store from PV branded counters at the same price they sell in the PV outlets.Patisserie Holdings reported that food costs were now stabilising following an inflationary period in the first half.“We are continually working on our supply chain to ensure we buy at the best market prices and have fixed price contracts on a number of key lines,” it added. “With further improvements in our supply chain and operational gearing from the growing group, we expect our gross margin to be broadly constant to the end of the year.”The business has also been impacted by the National Minimum and National Living Wage, but said it had limited this through more effective rostering in stores. It said the wage increases brought in last month had added £0.5m to its wage bill.“We have delivered another strong set of results with growth in both revenues and profit and excellent cash conversion despite the challenging market conditions and the current inflationary environment,” said executive chairman Luke Johnson.“We have opened 10 new stores including our first international store in the Republic of Ireland, and the pipeline to the end of the year to achieve our target of 20 new store openings is on track.“With a strong balance sheet and an experienced management team, we remain operationally focused on the organic delivery and continue to assess acquisition opportunities.”Performance in the six weeks following the results period end has been good with a strong Easter period, reported the company.last_img read more

Verizon Wireless supports law to ban texting while driving

first_imgVerizon Wireless Executive Director for State Public Policy, Daniel Mullin, said the company supports efforts by the state of Vermont to ban texting and e-mailing while driving.Mullin made the following statement today:“Verizon Wireless commends Governor Douglas and the Vermont General Assembly for supporting a law to not text and drive. With the issue of texting and driving on the minds of many Americans lately, we appreciate the support of the Vermont Legislature on this issue and their efforts in addressing it during this legislative session. As the largest wireless service provider, last year we launched a national ad campaign to bring forth this same message. Drivers must stay focused on the road ahead to ensure safety for others and themselves.”To learn more about the Verizon Wireless “Don’t Text and Drive” campaign, visit http://aboutus.vzw.com/wirelessissues/driving.html(link is external)About Verizon WirelessVerizon Wireless operates the nation’s most reliable and largest wireless voice and 3G data network, serving more than 91 million customers. Headquartered in Basking Ridge, N.J., with 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NASDAQ and LSE: VOD). For more information, visit www.verizonwireless.com(link is external). To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia(link is external).Source: Verizon. 2.3.2010last_img read more

Governor Tom Wolf Statement on Passage of Liquor Reform Bill

first_img Government That Works,  Liquor Reform,  Statement Harrisburg, PA – Governor Wolf made the follow statement regarding the passage of a liquor reform bill.“Today the House concurred with the Senate on historic liquor modernization legislation that provides greater customer convenience to the people of Pennsylvania. As I have always said, my goal is to modernize the sale of liquor and beer in Pennsylvania to ensure convenience and satisfaction for customers. Once the bill reaches my desk, I will conduct a final review of the legislation to ensure it meets my goals of enhancing the customer experience, increasing much-needed revenue to help balance our budget, and bringing our wine and spirits system into the 21st century.”# # #Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf SHARE Email Facebook Twitter June 07, 2016center_img Governor Tom Wolf Statement on Passage of Liquor Reform Billlast_img read more

MLB Winter Meetings: Everything you need to know about the MLB off-season’s busiest time

first_img Where: Hilton San Diego Bayfront When: December 8-12 LIVE TV Last Updated: 7th December, 2019 17:20 IST MLB Winter Meetings: Everything You Need To Know About The MLB Off-season’s Busiest Time The MLB winter meetings are set to happen at San Diego on Sunday, December 8, 2019. Here’s everything to know about the busiest week of the MLB off-season COMMENT Written By The MLB winter meetings are all set to kick off on Sunday in San Diego. Traditionally, the winter meetings are the four busiest days of the offseason. Last season, there were four trades and ten free-agent signings including the likes of Andrew McCutchen, Charlie Morton and the three-team trade of Carlos Santana and Edwin Encarnacion. MLB winter meetings main events: First Published: 7th December, 2019 17:20 IST Modern Era Hall of Fame Class announcement: Tommy John, Don Mattingly, Steve Garvey,  Marvin Miller, Dale Murphy, Dave Parker, Dwight Evans, Ted Simmons, Thurman Munson, and Lou Whitaker are the candidates to be deliberated by the Modern Baseball Era Committee to receive the Hall of Fame honour in the Class of 2020. Professional Baseball Employment Opportunities (PBEO) Job Fair: The PBEO Job Fair is a prospect for job hunters to come across team representatives and even have an interview. The agenda and registration info can be found on the official PBEO website. The majority of available positions are entry-level with minor league teams. Baseball Trade Show: The trade show is one of the most exciting parts of the MLB winter meetings. Dealers from around the country show off their products ranging from equipment to concessions to bobbleheads. You can find out more about the trade show on their official website. Bob Frietas Business Seminar and Awards Gala: The seminar features guest lecturers from both inside and outside the world of baseball alongside informal workshops. The Awards Gala consist of the presentation of the Bowie Kuhn Award, the Baseball America Organization of the Year award and a variety of Scout of the Year awards amongst other things.center_img SUBSCRIBE TO US WATCH US LIVE The MLB and minor league teams are presently negotiating a new Professional Baseball Agreement. MLB has suggested disregarding 42 minor league teams as part of a sizeable overhaul of the minor league. The minor league teams are quite understandably not in agreement with the proposal. The PBA terminates after next season and this week’s negotiations could be quarrelsome.Also Read: MLB Trade Rumours: Zack Wheeler, Philadelphia Phillies Agree To 5-year DealThe first-ever All-MLB Team to be unveiled at the 2019 MLB Winter meetingsThe 2019 MLB Winter Meetings will see the revelation of the first-ever All-MLB Team. The All-MLB Team will mirror performances from last season, and there will be one solitary All-MLB Side covering both the leagues. The American League and the National League won’t have separate teams. The team will be selected through a combination of fan voting and a panel including journalists, former players and baseball officials. Fan voting closes a week earlier. The All-MLB team will be announced on Tuesday and will include a catcher, a first baseman, a second baseman, a shortstop, a third baseman and three outfielders regardless of their outfield positions, a DH, five starting pitchers and two relief pitchers.Also Read: New York Yankees Owner Hal Steinbrenner Believes Brett Gardner Would Be Perfect FitMLB winter meetings: A window for potential tradesThe winter meetings are the busiest days of the offseason because of the potential trades that could happen. All officials, including the team owners, general managers, president of baseball operations are at the meetings, meaning there will be a whole lot of face-to-face discussions and trading buzz. A lot of free-agent signings and trades take place.All MLB managers interact with the media during the MLB Winter Meetings to provide a “state of the team” press conference. It’s generally the first time that the managers are quizzed on their new acquisitions. A position change or injury update comes out once in a while during these sessions.Also Read: MLB Trade Rumours: New York Yankees Consider Gerrit Cole, Stephen Strasburg MoveMLB winter meetings: The Rule 5 draftThe annual Rule 5 Draft will signal the unofficial end of the Winter Meetings next Thursday. Players selected in the Rule 5 Draft must continue to be on their new team’s active 26-man MLB roster during the entire 2020 season or be placed on waivers and offered back to their former franchise. Players not on any 40-man roster are eligible for Rule 5 draft selection. It serves a medium to give minor leaguers blocked in their current organisation, a shot at the big leagues. This year’s pool of qualified players includes: Sreehari Menon Also Read: MLB Trade Rumours: Texas Rangers Could Sign New York Yankees Player Miguel AndujarHere’s everything to know about the 2019 MLB Winter Meetings Players recruited out of high school in 2015 or earlier. Players enrolled out of college in 2016 or earlier. Players contracted as international free agents in 2015 or earlier. FOLLOW USlast_img read more