Arc triples 2019 trading figures
Arc Inspirations has announced positive trading figures compared to the same period in 2019.
Arc Inspirations has announced positive trading figures compared to the same period in 2019, with revenues up more than a third since reopening.
The Martin Wolstencroft-led business, which operates 17 venues – predominantly under its three brands Banyan, BOX and Manahatta – reopened all but two venues on 12 April 2021 as restrictions on outdoor trading eased.
All sites resumed trading on 17 May when hospitality was allowed to welcome guests back indoors, since when, the group has registered record sales, up 35%, versus the same period two years ago in 2019.
“To deliver this performance in our business before restrictions fully fell away is testament to our fantastic teams, who have embraced the challenging situation and shown tremendous adaptability, plus a real desire to make the return of hospitality brilliant for our guests," says Wolstencroft. "We think it says a lot about the very strong culture that underpins our business and also the huge consumer demand for what we deliver every day.”
Many of Arc’s 17 bars and bar-restaurants recorded record sales weeks since reopening, despite capacity restrictions and staffing challenges, including a stand-out performance from its Banyan venue at Corn Exchange in Manchester city centre, which took nearly £150,000 in one week.
In the face of the challenges brought about by the pandemic, the company has kept in place its long-standing incentive scheme which sees teams from the best-performing bars taken skiing to Meribel in the French Alps every spring. The group is also running an additional incentive trip of a New York study tour if the company hits an EBITDA (underlying profit) stretch target.