Salmon prices slice Wasabi profits
THE Wasabi sushi chain has blamed soaring salmon prices for its pre-tax from £2 million to £769,598 last year, the Daily Telegraph reported last month.
Despite the jump in salmon costs, Wasabi grew sales from £80 million to £98 million ing the number of branches from 49 to 55, including a second store in New York.
Wholesale salmon prices have soared by as much as 50 per cent in the past year.
‘Unlike many businesses, Wasabi decided not to pass on the increased costs of salmon to our customers, preferring instead to ab costs ourselves,’ said
‘The salmon wholesale market is but we are very con in excellent shape to ride out any future during the remainder of 2017.’
Wasabi recently signed a trial with Marks & Spencer to inside the retailer’s larger shops by the end of this year.