Five Guys Posts £36.7m Loss in Europe Despite Revenue Rise
Five Guys, the popular American burger chain, has reported a mixed bag of results for its European operations in 2024. While revenues rose in some markets, the European arm posted a pre-tax loss of £36.7m, and the number of outlets grew to 281.
Despite an overall revenue increase from £542.9m to £560m, Five Guys' European arm widened its losses in 2024. The political landscape negatively impacted consumer confidence, contributing to this trend. However, the company remains optimistic about its future growth plans in the UK and Europe.
In the UK, revenues grew slightly from £316.4m to £320.8m. Meanwhile, revenues in Germany dipped from £77.9m to £73m, but Spain saw a rise from £70.6m to £79.1m. France also experienced growth, with revenues increasing from £77.9m to £87m.
Five Guys ended 2024 with 281 locations in Europe, up from 256. Despite the pre-tax loss, the company is 'confident' about its growth prospects in the UK and Europe, indicating plans to expand its presence further.
Read also:
- U.S. CBP's Operation Plaza Spike Boosts Fentanyl Seizures Along Arizona-Mexico Border
- Regensburg Court Sentences Pizza Delivery Owner for Illegal Employment, Tax Evasion
- Tesla's EV Market Share Plummets in Europe, US Competition Intensifies
- Catastrophe at a U.S. Steel facility in Pennsylvania results in the loss of two lives. crucial details unveiled
