Itsu has reported an increase in revenue of £58.7m for the 2021 vs. £41.4m in 2020. Same store sales for the current year are expected to be at the 2019 level.
Thanks to a decrease in operating losses, adjusted EBITDA has increased by 161% from -£5.7m to +£3.5m. Following COVID lockdown, the brand has observed a change in customers behavior with higher proportion of sales coming from suburban areas vs. Itsu’s traditional London workers-driven business. As a result, the brand is looking at focusing new openings in regional towns and malls also in cooperation with franchisees.
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https://www.mca-insight.com/finance/itsu-achieves-restaurant-ebitda-increase-of-160/672281.article
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