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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Various Eateries Plc | VARE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 22.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 22.50 | 22.50 | 22.50 | 22.50 | 22.50 |
| Industry Sector |
|---|
| TRAVEL & LEISURE |
| Top Posts |
|---|
Posted at 05/7/2022 13:45 by tomps2 Various Eateries (VARE) interim results presentation - June 2022Various 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/co Podcast: piworld.podbean.com/ |
Posted at 07/3/2022 07:33 by tomps2 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: |
Posted at 10/5/2021 08:11 by hastings 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. |
Posted at 02/3/2021 08:33 by albanyvillas 0 0 0VARE 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.variouse |
Posted at 25/2/2021 13:49 by hastings Write up for interest.Https://mar |
Posted at 25/2/2021 08:30 by tomps2 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: |
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