Various Eateries Share Discussion Threads

[richie32] 28/6/2023 12:15

As a shareholder it makes sense that they need at least one more year to forego profit in return for getting better turnover/market share.

I don't like it, but it is the only thing to do imho

[mister md] 28/6/2023 10:56

Wow, cost of sales equal to Revenues, so 0 Gross Profit before Overheads are taken into account.

Not for me, this share.

[richie32] 24/4/2023 12:20

I wonder if any of the Prezzo sites would be of interest

[tomps2] 05/7/2022 13:45

Various Eateries (VARE) interim results presentation - June 2022

Various Eateries management, Andy Bassadone, Executive Chairman, Oliver Williams, CFO and Yishay Malkov, CEO present interim results for the 26-week period ending 3 April 2022. A positive performance in line with expectations for the full year.

Video: www.piworld.co.uk/company-videos/various-eateries-vare-interim-results-presentation-june-2022/

Podcast: piworld.podbean.com/e/various-eateries-vare-interim-results-presentation-june-2022/

[richie32] 12/5/2022 12:22

Great RNS today

[richie32] 07/3/2022 08:39

Andy Bassadone is very good.

Also, covid haas been pushed out of the media so confidence should accelerate

[tomps2] 07/3/2022 07:33

Various Eateries #VARE full year results overview by the team, Executive Chairman, Andy Bassadone, CFO, Oli Williams & CEO, Yishay Malkov . This was filmed in Coppa, Putney which was buzzing with a great vibe. They experienced strong trading post-reopening facilitated by large outdoor spaces. They resumed the premium site roll-out programme marked with the opening of Cobham and Clifton Village. They remain poised to capitalise on the unprecedented site opportunity in terms of both availability and terms. Post period trading has been encouraging with momentum building.

Video:

Podcast:

[richie32] 04/3/2022 13:51

I've bought some of these today. Looks like it could do well in calmer waters

[aspringo] 17/11/2021 08:38

Good morning hastings, sorry to trouble you, but I wondered if you had any plans to revisit management here.Or if you've sold and moved on, apologies.I've visited their sites on the Thames and thought they were wonderful. Food and drink was good and at a reasonable price, so I've been adding to the portfolio.

[hastings] 10/5/2021 08:11

Good to see the share price ticking up, hopefully much more to come as we open up at last.I expect VARE to make hay given its offering and excellent management team.

[albanyvillas] 02/3/2021 08:33

0 0 0
VARE could be interesting for yous

What is very apparent and which should clearly hold VARE in good stead is that the team appear to be well ahead of the curve, having already installed the igloo concept before others had even thought about it and where such vision had already seen the brand embracing a changing working environment. “We don’t think the whole world will now start working from home, but we do think that people may be doing that one or two days a week for example and that trend certainly plays to Coppa’s strengths”.

As the company moves forward there is likely to be a mix on the outlets it develops in terms of buying the freehold as with Cobham or opting for the lease route.

CFO Williams says, “the Cobham purchase was probably more of a one off as it was a really attractive proposition for us as it’s a really difficult place to get into and it came up at the right time and it was a really great purchase.
Looking ahead, the majority will most likely be leasehold sites but obviously if an attractive freehold site came up, then yes, we would absolutely look at it”.

VARE isn’t however all about Coppa Club as it has another emerging brand in Tavelino which currently has a presence on the Riverside in London.

Bassadone is quick to enlighten me further and where the enthusiasm is arguably
infectious, “this is my baby really and it is focused on Italian food which is the UK’s number one seller, but yet, is served by a whole host of mediocre chains that really don’t focus on the product and ultimately end up in a discounting war. It’s effectively
an open goal crying out for a quality offering, so what we did with Cote, we want to apply to Tavelino which will be an Italian Brasserie where you can actually have home made pasta.
If you want to come and spend £40.00 per head you can, or equally, if you only want to spend £15.00, you can do that too, so something on offer for everyone”.

Bassadone sees huge potential for Tavelino going forward as numerous restaurants that closed their doors will not be opening again, providing for a major opportunity in ripe locations with a focus on the quality of the food and service.

In terms of the financials Williams says that despite the harsh environment created by the pandemic VARE has a very healthy balance sheet to execute on its strategy and in addition to the money raised, it has also received an interim payment of £2.5m from its business interruption insurance. On trading, when restrictions were eased last summer VARE’s venues experienced robust activity, so not surprisingly there is cautious optimism moving forward.

Bassadone points out that back in the summer they saw big like-for-like growth outside of London with massive pent-up demand and for one who has been operating in the industry for some thirty years he clearly sounds confident on the mission.
“Spending on eating out has only been going one way since the early 1990’s and it has now become embedded in our culture, everyone wants to eat out and it is such a big part of our social life”.

Indeed, given the easing out of lockdown and the promise of a brighter summer VARE’s biggest headache at its venues may prove to be handling the level of activity, rather than worrying about getting people over the threshold.

In terms of promoting their brands it is also refreshing to hear of the strategy as Malkov explains, “we aren’t into running big national campaigns, it is much more about the local pr and marketing in those areas and we already have a strong market position with a good following on social media. If you look at what happened in Cobham, people were already talking about us long before we had even opened and there was a lot of excitement around that”.

As mentioned in the opening, there is currently no guidance out on the market at present, but that will change as things progress on the wider economy opening up.

There are however for now good reasons to be optimistic, not least the strength and depth of the management and a high quality team also backing up the brands.

Coppa’s like-for-like sales were very positive until mid-February of last year and was trading better than expected through July to September, despite various restrictions remaining in place.

In particular the five Coppa Clubs outside of London saw a 24% in LFL’s over the period, whilst the first Tavolino which only opened in July of last year also saw positive trading.
The coming months should see news emerging on further additions and their locations as Bassadone says that there are currently three or four under active consideration.

And just this week the company has also welcomed a new property director on board, who arrives from Loungers where he oversaw
some one hundred openings.
The team here believe that they are offering a high quality experience in wonderful settings which may be poised to grow and prosper as we finally get to once more embrace some of our much lost freedom.

The shares which briefly dipped at the open are currently up 7% at 87.5p and I remain a firm holder for the longer term story.
hxxps://www.variouseateries.co.uk/who-we-are

[paulo435] 01/3/2021 17:38

Should b a nice multi bagger once things start to get opened up again - not long now :)

[hastings] 25/2/2021 13:49

Write up for interest.Https://martinflitton1.wixsite.com/privatepunter/post/vare-serving-up-some-growth-potential-25-02-21

[paulo435] 25/2/2021 10:32

Cheers Hastings

[hastings] 25/2/2021 09:11

Just finished speaking with management and not surprisingly, very impressed.I'll have a write up out later for interest.

[3dwd] 25/2/2021 09:03

WHI view: This morning's results are very much in line with our expectations. It is encouraging to see the positive trends in trading when sites were able to open, as well as the internal actions taken by management such as renegotiating rents and the implementation of the new Coppa menu. Although disruption will continue to affect the company's eleven sites in the coming weeks, restrictions in place continue structurally to increase the size of the opportunity ahead - more sites are becoming available at even lower rents, competition for customers is being further reduced and a larger and more distressed pool of potential acquisition opportunities will be presented, all firmly reinforcing the Various Eateries' investment case

[tomps2] 25/2/2021 08:30

Various Eateries #VARE FY20 results overview with Andy Bassadone, Chairman, Yishay Malkov, CEO & Oli Williams, CFO, who outline the business, and the opportunities in the post CV19 world. They are an experienced management team, confident in their brands with a strong balance sheet. They face a market of pent-up demand, less competition, a massive choice of sites and great talent. They say they are ‘a coiled spring ready to pounce!’

Video:

Podcast:

[74tom] 23/2/2021 12:30

This seems like a no brainer buy given the recent news, it's still very much under the radar vs some of the more recent IPO's (i.e. Nightcap which has risen 300% from it's IPO price). It appears someone is using today's liquidity to sell a chunk, but it's onwards and upwards from here I would imagine.

[hastings] 23/2/2021 09:37

Good to see this moving ahead and plenty of upside potential further down the line. Results out shortly, but it'll be more about the coming plans/expectations rather than the last period.I'm hoping to be able to speak with management and if successful, I'll pen something on the back of that.

[morkandmindy] 22/2/2021 12:55

Was going to purchase some more but can't even buy any now! Looking good for a further rise.

[pugugly] 21/2/2021 22:04

Thanks Hastings - Personal marker at 75/79 - Sspect sP will very much depend on when it is deemed safe to eat out again - NB Grandson had to have birthday supper as a McDonald's takeaway and eaten in the car - rather than a great nosh-up

[johnyee 7] 21/2/2021 13:33

About time it got noticed.

[hastings] 21/2/2021 08:28

Picked a few of these up back in November and added recently. Interesting to see it tipped in the Mail today alongside some others. No doubt that should do the shares a bit of good! Https://www.thisismoney.co.uk/money/investing/article-9281667/amp/MIDAS-Ten-tips-UK-shares-biggest-bargain-decades.html?__twitter_impression=truePopped down my own thoughts from November too.Https://martinflitton1.wixsite.com/privatepunter/post/food-for-thought-a-look-at-various-eateries-13-11-20

[energeticbacker] 28/9/2020 09:39

A brave new arrival on AIM.

Will the market have an appetite for another restaurant group?

More on the Investor's Champion website.