In Focus
Jumbo Group lowers guidance as coronavirus impacts key markets
Jumbo Group lowers guidance as coronavirus impacts key markets
Its board says its working capital position remains healthy.
Global bubble tea market estimated to reach US$4.3 billion by 2027
Varieties of the Taiwanese drink are expected to provide lucrative opportunities for market expansion.
Starbucks partners with Beyond Meat, Oatly to introduce plant-based meat and drinks menu in China
Packaging for the new menu items is made from plant-based material.
Tougher penalties imposed for food delivery personnel who disregard S'pore's safe distancing guidelines
The stiffer measures came amidst the surge of delivery orders in the Lion City.
Luckin Coffee's value plunges after admitting to potential US$300m fraud
Billions were wiped off from its market capitalisation.
Marrybrown waives franchise royalty fees for three months as Malaysia extends movement control order
It will also support franchisees by talking to landlords regarding rent reductions.
Yum China reopening stores as it sees “early signs of recovery”
Almost all stores that remained open since the start of the COVID-19 outbreak experienced “significant” declines in sales.
Starbucks to invest US$130m to build largest overseas roaster in China
The coffee chain shrugs off worries about the long-term impact of the COVID-19 outbreak.
Surge in transactions to drive growth of Indian foodservice market
The sector is forecast to be worth US$32bn by 2023.
Foodservice in Southeast Asia forecasted to grow by 7.2% in 2020
It could take a hit due to certain markets likely impacted in Q1 due to the COVID-19 outbreak.
BreadTalk Group loses SG$5.2m in FY 2019
Only the company’s restaurant division showed profit growth.
Growth opportunities in foodservice seen for China, India in 2020
This is amidst sluggish growth in both economies.
Restaurant receipts in Hong Kong shrink in 2019 for first time in 16 years
The results came as the city suffers its first annual recession in a decade.
China's food delivery segment only area seen to benefit during coronavirus outbreak: analysis
Short term downside risk to consumer spending is also forecasted.
McDonald's, Starbucks, KFC shut China stores amidst coronavirus outbreak
Currently, the death toll has reached over a hundred with 4,500 confirmed infections.
37% of Hong Kong restaurants see increased revenue turnover in Q4 2019: Deliveroo
However, only 2 in 10 businesses have reported profit growth.
After overtaking Starbucks in China, Luckin Coffee continues aggressive streak with vending machines, JV roasting plant
The chain says the new channels are part of its “omnichannel customer traffic network”.
