Langton Capital – 2022-12-02 – W Cup, cannibalisation, cost of living, delivery, Cineworld, PureGym etc.:
W Cup, cannibalisation, cost of living, delivery, Cineworld, PureGym etc.:A DAY IN THE LIFE: So much for good intentions. Yesterday evening was ‘free’ to clear a bit of admin but, with the cliff-hangers in Group E in the World Cup, what started out as a five minute trip just to see what the scores were turned into a two hour viewing session with all of the trimmings. That’s beer, basically but, as we say Auf Wiedersehen to die Mannschaft (along with the Danes and the Belgians), it’s back to the day job. Until the next match, that is. Anyway, it’s Friday and it’s not raining. Have a great weekend, here’s to a good result on Sunday and let’s move on to the news: LANGTON EMAIL: The Free Email is now written in short form. Extended versions of many stories are in the Premium Email. Reply to this email if you would like to upgrade. Prices for the Premium at time of writing are £345 for one subscription, £595 for multiple, both plus VAT. Or sign up for easy in, easy out monthly option HERE https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN PUBS & RESTAURANTS: The World Cup: Plenty of statistics (and opinions) coming out. Barclaycard Payments data shows that pub and bar transactions were up 20.5% during the Wales vs England World Cup match. The World Cup boost also benefited restaurants which saw a 13.9% increase in transactions as Brits socialised and dined out with friends and family… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Simply Business reports that UK pubs could get a £155m World Cup boost this winter, however there is concern the full effect of World Cup trade will not be felt, with pubs already seeing a natural upturn in trade due to the festive period. • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The British Beer & Pub Association reports that some ’15 million pints [are] expected to be drank on Sunday when England face Senegal in the knockout stages; 5 million more than usual, delivering an additional £22 million to the industry.’ It adds ‘ahead of the tournament, a survey conducted by the British Beer and Pub Association showed pubs expected the World Cup to boost business by up to 10%. • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. In addition to the flurry of data mentioned above, David Lee, of Insight & Solutions, reports that Tuesday hospitality sales were up 86% on the average of the prior four Tuesday’s but he adds ‘we continue to see a double digit decline for all other days outside of England/Wales matches, with significant 40%/50% declines post 7pm – the good news is that the last 7 days saw a positive uplift of +8% sales uplift v the previous 4 week average daily sales… Cost of living: Research by the London School of Economics has suggested that Brexit has added almost £6bn to the cost of food across the UK in the two years to the end of 2021. This is around £210 per household and, in terms of discretionary income displaced, it is having a greater impact on poorer households… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The Future Living Report by Vita Group claims that the food and beverage industry is set to take the “biggest hit” as consumers cut back on discretionary spend. Nearly half of people surveyed said they had planned to spend less on eating-out to save money, with 43% cutting back on takeaways and 29% reducing spend on out of home beverages. Other news: The CBI reports that private sector activity fell in the three months to November (down 7%). It says the decline is at a slower pace than it was in the three months to August… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Union the TSSA is to push ahead with strike action, This in addition to the RMT’s two-day strikes on 13-14 December and 16-17 December. The TSSA says ‘it’s vital that the train companies and the government understand that our demands are not going away. Sapient Corporate Finance appoints Steven Kenee as a director. Mr Kenee was formerly a Partner and Head of the Hospitality and Leisure team at Downing LLP, an investment manager with £1.8bn of assets under management. The MA reports that the British Poultry Council is saying that the current outbreak of avian flu is the worst UK outbreak seen in recent years and has wiped out half of the free range turkeys produced for Christmas. The Council’s communications manager Kerry Maxwell said that the disease was spreading ‘rapidly’ through wild birds, and there were fears it was becoming endemic. SIBA has launched a new Bottleshop Membership for craft beer retailers so that it can offer these specialist retailers representation and support. COMPANY NEWS: DoorDash is cutting some 1,250 corporate jobs, or about 6% of its workforce. The Company says that it hired too many people during the COVID-19 pandemic-inspired boom in delivery… ETM Group has received more than £11m in funding from alternative lender ThinCats, enabling the company to refinance the entirety of its bank loans as well as providing suitable working capital for further organic growth. ETM operates 13 venues across London, including rooftop bar Aviary and premium sports pubs such as Greenwood and Redwood. Danish-owned Sticks’n’Sushi have opened a site in Westfield White City, marking the group’s 8th restaurant in London and its 10th site in the UK. Sticks’n’Sushi offers a unique combination of traditional sushi and yakitori sticks from the grill. HOLIDAYS & LEISURE TRAVEL: Steve Endacott in Travel Weekly claims the industry must be honest about its environmental impact but also press for change elsewhere. Travelex has introduced a range of foreign exchange bureaux and ATM services at Stansted. The company has also signed for new stores or contracts at other airports including Edinburgh, Glasgow, Belfast, Adelaide, Brisbane, Cairns, Frankfurt, Cologne, Zurich, Dubai, Hamad International, Singapore Changi and Kuala Lumpur. Royal Caribbean has reported that ‘Celebrity Cruises posted the line’s single largest booking day ever on Black Friday, followed by its strongest Cyber Monday in history.’ Iata data shows that global airline passenger traffic recovered to almost 75% of pre-pandemic levels in October. Total carryings rose by 44.6% YoY in October. OTHER LEISURE: The Times reports that Vue may attempt to buy troubled rival Cineworld. it says ‘Britain’s third-biggest cinema chain is ready to swoop on a rival in a “huge consolidation play” ahead of a possible stock market flotation…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. PureGym reports that it now operates over 500 venues across the UK and Europe. It has reported revenues of £120m for the quarter to end-September 2022, up 8% on the same quarter last year. Adjusted EBITDA in in the quarter was £24m vs £25m last year… Google is facing a £13.6bn class action lawsuit claiming that the company raked in ‘super profits’ at the expense of hundreds of thousands of websites and mobile apps in the UK. The claim is being brought on behalf of 130,000 businesses that carry online banner advertising. Google has already come under scrutiny from regulators over its control of the online advertising market, which is estimated at up to 90%. FINANCE & MARKETS: Inflation. Bank of England chief economist Huw Pill has said he expects inflation to fall ‘quite rapidly’ in the UK next year. This as a result of the annualization of this year’s gas price rises…. • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Economy. S&P Markit has reported on UK November manufacturing PMI saying that it rose slightly, from 46.2 in October to 46.5 in November. It remains well below the 50.0 mark that it would need to hit to signal expansion… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Housing. The Nationwide yesterday reported that the price of the average house in the UK in November fell by 1.4%, further reflecting recession fears and the government’s disastrous mini-Budget in September. The decline represents a sharper drop than had been estimated (around minus 0.3%) and it takes the annual growth rate down to 4.4% from 7.2%… The Telegraph reports that first-time buyers now ‘face an extra five-year wait to get on the housing ladder compared to in 2020’. Bitcoin. The ECB has said that Bitcoin’s bounce represents an ‘artificially induced last gasp before the road to irrelevance.’ It says the crypto-currency is not suitable as either an investment or a currency… • The ECB says ‘since bitcoin appears to be neither suitable as a payment system nor as a form of investment, it should be treated as neither in regulatory terms and thus should not be legitimised.’ Direction of interest rates. The Fed’s comments, interpreted yesterday as dovish, are consistent with smaller rate increases over a longer period of time than perhaps previously expected. The Fed’s Jerome Powell said ‘it seems to me likely that the ultimate level of rates will need to be somewhat higher than thought at the time of the September meeting.’ Brexit. Government figures show that it is to miss the target that it set itself for securing post-Brexit trade agreements. Numbers also show that the number of UK companies undertaking export business is down by 15%… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Sterling hitting 4mth highs vs dollar at $1.2227 and up vs Euro at €1.1617. Oil higher at $87.15. UK 10yr gilt yield down 6bps at 3.10%. World markets lower yesterday and London set to open down around 9pts as at 6.30am. RETAIL WITH NICK BUBB: • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. |
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