Deliveroo Guides For Higher Earnings, Positive Free Cash Flow

Deliveroo guided for further growth in its core earnings this year after its 2023 results were better than expected.

The food-delivery company expects its adjusted earnings before interest, taxes, depreciation and amortization—a metric that strips out exceptional and other one-off items—to be between 110 million and 130 million pounds ($141 million-$166 million) in 2024, it said Thursday. It guided for positive free cash flow for the year, and expects its gross transaction value to grow between 5% and 9%, with a first quarter...

ANALYSIS: Inflation, Waning Demand Impacting UK Beef Trade This Summer

Inflation, declining cattle prices and lackluster demand are all key themes that continue to influence the UK beef trade this summer. Boxed beef carcass cutouts have struggled for several weeks as offerings for most items were generally fully adequate while demand remained subdued across retail, foodservice and manufacturing sectors.

Despite increased retail beef promotions across the UK, wholesale markets continued their downward trajectory throughout July and August. Several beef items includ

UK Supermarket Leader Morrisons Selects Eagle Eye to Supercharge Loyalty and Promotions Capabilities

Eagle Eye, a leading SaaS technology company powering real-time, omnichannel and personalised consumer marketing activities, has secured a five-year contract with Morrisons Supermarket Ltd, one of the largest supermarket chains in the UK to further develop its loyalty and promotional offering.

Eagle Eye's AIR platform will enhance Morrisons loyalty programme, which allows customers to benefit from exclusive prices and earn points on selected products in-store, online and on fuel. The new offering will create more ways of engaging with customers, and help the supermarket...

Papa John’s International Acquires Drake Food Service International’s Restaurants in the UK

Papa John’s International, Inc. (NASDAQ: PZZA) (“Papa Johns” or “Company”) today announced the acquisition of restaurants previously operated by the M25 division of Drake Food Service International (DFSI) in the United Kingdom. The transition of restaurants will establish a portfolio of Company-owned restaurants in the market. Financial terms of the transaction were not disclosed.

“The U.K. is important within our international footprint with the largest number of stores outside of North America, strong brand awareness with consumers and potential for long-term growth as we still have...