 Less customers are choosing Pizza Express |
UK restaurant chain Pizza Express, which is the subject of two takeover bids, has said its sales are still falling. Last year, the struggling restaurant chain increased the size of its pizzas and introduced new items on its menu in an attempt to lure customers back to its tables.
But on Wednesday, the restaurant chain said like-for-like sales - which do not take into account the impact of new restaurant openings - dropped 9% in the 14 weeks to 6 April, compared to a 5% fall in the previous 14 week-period.
"A number of operational improvements have been introduced, but intense competition, coupled with well documented economic and political factors, continued to delay improvements in sales performance," Pizza Express said in a trading update.
Slowdown
Restaurants all over the UK are battling with a downturn in customer numbers, as consumer spending has slowed down and fewer tourists are visiting Britain.
Pizza Express, which runs 300 restaurants, has also been faced with stiff competition.
In line with its sales, Pizza Express' shares have also slumped recently.
Once as high as 925p, shares on Wednesday were trading at about 387p.
The restaurant is currently the subject of a two-way bidding war between the owner of Nando's chicken restaurants and previous Pizza Express owner Luke Johnson.