USA: PizzaExpress - slow commotion - COMMENT (Members)
Like-for-like sales growth at PizzaExpress has slowed to 2%, with a 0% rise seen in London. Falling tourist numbers hit outlets in the capital, but further afield the picture was better. Sales continue to rise, albeit not as strongly as before. The company believes that customers will trade down from expensive meals to using its restaurants. While this is unsubstantiated, and growth is likely to stay slower, PizzaExpress' prospects still look good.
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