Jobs market, food price inflation, disposable incomes, festivals & other:

A DAY IN THE LIFE:

In a reminder that there’s a fairly narrow band of temperatures in which you can get anything done, Langton finds itself a bit distracted by the sun at the moment.

Hence, it just remains to say welcome to the second half of 2025 – we’re now much closer to next Christmas than we are last – and let’s move straight on to the news:

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PUBS & RESTAURANTS:

Employment:

Consumer confidence is impacted by changes in the employment market and, just at the moment, the news is less than helpful. In addition to macro-stats, situations such as Clarks, 1,200 jobs at risk and Lotus, maybe another 1,300 worried about the future of their factory, could add to the noise…

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Food price inflation:

The British Retail Consortium has reported that UK food inflation rose to its rate in over a year in May as a result of dry weather and other factors. The BRC reports that the annual rate of increase rose to 3.7% in May from 2.8% in the year to April…

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Other disposable income issues:

The ONS has said that tax rises and inflation have squeezed real incomes in Q1 this year. It says that real household disposable income per head fell by 1% in Q1 after growing by 1.8% in Q4 last year…

And energy costs may fall – but not much further. So says Cornwall Insight, which reports its belief that, though energy prices will fall from Tuesday for consumers 21 million households in England, Scotland and Wales, they will rise when the weather cools down in the autumn….

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Delivery & illegal labour.

The BBC and others report that food delivery companies including Deliveroo, Uber Eats and Just Eat have agree to ‘strengthen’ security checks after reports that some asylum seekers are working illegally as couriers….

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Other news:

Low and no. Heineken reports that ‘today’s festivalgoers are actively seeking alcohol-free options at festivals and concerts….’

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Women’s Euros. The BBPA says that the Women’s Euros tournament could lead to an increase of some 2.6m pints extra being served over the tournament….

China tariffs. Drinks Business reports that ‘trade sources in Cognac and Paris suggest that the spirit producers, led by LVMH (Hennessy), Pernod Ricard (Martell) and Remy Cointreau (Remy Martin) have agreed a tentative plan with Beijing for minimum prices on their shipments to China. This could head off moves to add tariffs to the products.

COMPANY NEWS:

Homeslice. The MCA reports that ‘administrators for London-based pizza group Homeslice are preparing to present a proposal for a Company Voluntary Arrangement to creditors in a bid to save the business….’

Wingstop yesterday opened a site at 2 Old Town Street, Plymouth PL1 1DP. To celebrate, the company offered free chicken wings to the first 100 customers on opening day. The site currently offers a dine-in facility but applications for alcohol sales and late‑night refreshment have also been submitted.

Greene King reports that The City of Quebec, which it says is ‘London’s oldest LGBTQIA+ pub, has officially reopened its doors to the public following a six-figure investment.’

KFC has announced that it is set to aggressively expand in the UK to coincide with its 60th anniversary in the country. The company reports that it is looking for 50 or more sites as a part of a wider £1.49 bn growth plan. KFC says that it will offer finder’s fees for suitable sites.

HOLIDAYS & LEISURE TRAVEL:

South Wales holiday park company Celtic Holiday Parks Limited entered administration on 27 May. The company, which was founded in 2003, operates sites at Noble Court Holiday Park in Narberth, Meadow House Holiday Park in Amroth.

OTHER LEISURE:

Festival season. With Glastonbury in the news for a number of reasons, the Guardian reports that ‘a wave of big-name acts including Taylor Swift, Charli XCX and Bruce Springsteen helped to attract a record of more than 23 million live music fans in the UK last year, leading to an unprecedented £10bn of spending across the UK economy….’

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The US dollar has had its worst six months in over 50 years on the back of geopolitical crises and uncertainty caused, in part, by Donald Trump’s blustering and threatened trade war. The US$ is down by 10.8% against a basket of currencies since the start of this year.

Redditch-based provider of specialist cycles and accessories Greyville Enterprises has entered administration. The company ‘was founded in the 1970s and has grown to supply more than 1,000 retail and online shops across the UK’ reports Company Rescue….

FINANCE & MARKETS:

The ONS reports that real GDP rose by 0.7% in Quarter 1 this year. Real GDP per head rose by 0.6%.

Donald Trump, who appointed Jerome Powell as chair of the Federal Reserve in 2017, has said that Mr Powell is keeping interest rates ‘artificially high’ and described him as a ‘bad person’.

The Bank of England has announced that mortgage approvals in the UK rose in May after dropping in the wake of the end of the tax break for some homebuyers.

Sterling mixed at $1.3737 and €1.1662. Oil lower at $66.46. UK 10 year gilt yield down by 2 basis points at 4.48%. World markets better to mixed yesterday and London set to open around 2 points higher as at 6.30am.

RETAIL WITH NICK BUBB:

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