Famous Brands (owner of Steers/Wimpy/etc.) reports its 1st ever operating loss
Famous Brands – the owner of famous brands such as Steers, Wimpy and Debonairs Pizza – reported an operating loss of R109.8 million for the half-year to 31 August 2020.
Revenues plummeted by 48% to R2.01 billion.
The Money Show’s Bruce Whitfield interviewed Famous Brands CEO Darren Hele.
A solid five weeks [without trading in SA] … The impact in the UK was similar…Darren Hele, CEO - Famous Brands
Wimpy [UK] is trading exceptionally well… very resilient…Darren Hele, CEO - Famous Brands
In June, there wasn’t a customer in sight… it’s taking longer [for people to return to restaurant dining] … Big centres and commercial areas are struggling… the action is in smaller, suburban centres… We haven’t reopened OR Tambo, there is no volume…Darren Hele, CEO - Famous Brands
I think so [asked whether it’s their first operating loss] …Darren Hele, CEO - Famous Brands
Listen to the interview in the audio below.
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