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Hostmore – “trading update and board change”, how effective currently is its “elevating our positioning”?

Previously writing on 'Fridays' (formerly TGI Fridays), '63rd+1st', and 'Fridays and Go' restaurants and bars company Hostmore (MORE), in November with the shares at 15.245p I questioned how effective its “elevating our positioning” is going to be against current headwinds. Today a “Trading Update and Board Change” announcement… and the shares currently slumping from a last close above 14p to below 11.5p, so what’s the detail?

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Hostmore – argues “elevating our positioning”, but how effective is it going to be against current headwinds?

UK hospitality business comprising cocktail-led bar and restaurant brand '63rd+1st', fast casual dining brand 'Fridays and Go' and American-themed 'Fridays', Hostmore (MORE) has announced “a major new marketing campaign for its Fridays brand”, emphasising “in an environment where consumers are putting more thought into where they spend their money, we recognise the importance of elevating our positioning”. Really?

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Hostmore – “in line with the expectations” set out in May, so what does that mean?

American-themed casual dining brand 'Fridays', cocktail-led bar and restaurant brand '63rd+1st' and fast casual dining brand 'Fridays and Go' company Hostmore (MORE) has issued a half-year trading update emphasising “guidance for the full year remains unchanged, with LFL revenues for the period since 23 May 2022 in line with the expectations set out in the trading update issued on 26 May”. So what of a share price of 35p, comparing to more than 40p in May?

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