The Restaurant Group has reported an “encouraging” recovery in sales following the easing of restrictions across the UK, with its pan-Asian chain Wagamama now trading at 85% of the levels it did in 2019.
Wagamama had 130 sites opened in the five weeks to 16 May, with sales getting close to where they were before the pandemic due to ongoing strong delivery volumes and good trading from outdoor space in many locations.
TRG also had 75 pub sites open, which traded at 85% of comparable 2019 sales levels, benefitting from significant outdoor space and investments in stretch tents and marquees.
Its leisure division looks like it might take longer to bounce back, however, with the 110 sites it has had up and running in the same period only reaching 60% of the levels recorded two years ago.
TRG currently has approximately 350 sites open across its Wagamama, pubs and leisure businesses, representing 95% of their respective combined estates.
The concessions business currently only has four sites trading, given restrictions regarding international travel.
The company stated: “The board has been very encouraged by the trading performance seen so far in 2021. While the environment for the remainder of the year continues to remain uncertain, the group is well-positioned across its diversified brand portfolio to benefit from the sustained removal of government restrictions.”