Langton Capital – 2023-07-03 – Pizza Pilgrims, Adnams, DOM, trading, HMRC, strikes, confidence & other:
Pizza Pilgrims, Adnams, DOM, trading, HMRC, strikes, confidence & other:A DAY IN THE LIFE: When Japan came a rather distant second in WWII, Emperor Hirohito famously said that his government had ‘decided to effect a settlement of the present situation by resorting to an extraordinary measure.’ That is the country surrendered unconditionally and threw itself upon the mercy of its opponents and, in much the same way, companies are perhaps wont to say they are ‘exploring financing solutions’ or are ‘seeking capital to fund further growth’ when that may well not tell the whole story. But, on the basis that humans are, well, human and that emotions are fixed and only facts are variable, here are a few more pointers from the Emperor as to how to deal with failure. • Stress your altruism. You can say you are collapsing for the benefit of others. Maybe the High Street needed a few more gaps like a boxer needs fewer teeth. It could help him at weigh-in. Hirohito said Japan’s aim was ‘to strive for the common prosperity and happiness of all nations.’ • Don’t use words like disaster, collapse or crumble. Hirohito’s most famous line was that the ‘the war situation has developed not necessarily to Japan’s advantage.’ Maybe going bust, shuttering your shops and sacking staff was an honourable second best, marginally sub-optimal. • Find something to blame. It may be true. Consider Brexit, Covid, Ukraine, the government. You lost by chance rather than incompetence. But don’t use the word ‘lost’. Do not look internally. Hirohito said its enemies chose to ‘employ a new and most cruel bomb.’ • Mention your glorious past, gloss over your slightly less glorious present and big up your potentially glorious future. Again, it may even be true. Stick in altruism again and wrap up. Hirohito said Japan’s aggression had been working towards the ‘emancipation of East Asia’ and said his country would bravely ‘pave the way for a grand peace for all the generations to come by enduring the unendurable and suffering what is insufferable.’ Anyway, you get the gist. And all’s well that ends well. On to the news: LANGTON EMAIL: The Free Email is now written in short form. Extended versions of many stories (after the ellipses) are in the Premium Email. Reply to this email if you would like to upgrade. Prices for the Premium are £395 for one subscription, £695 for multiple, £995 for very large subscribers, all plus VAT. Or sign up for easy in, easy out monthly option per subscriber HERE https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN PUBS & RESTAURANTS: Trading: Lumina Intelligence reports that the UK pub & bar sector is forecast to reach a value of £23.3bn this year… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. CGA has reported that UK drinks sales in the week to 24 June were in year-on-year growth for the ninth week in a row… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. In addition to RMT walkouts on 20, 22 and 29 July, ASLEF train drivers are imposing an overtime ban for six days this week from Monday to Saturday… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. The Consumer: Charity Debt Justice maintains that the number of UK households struggling with heavy debt has increased by two thirds since 2017… Energy prices fell from the first of July with monthly-payers set to feel the benefit over the next 2-3 weeks…. Business confidence The Institute of Directors Economic Confidence Index suggests that optimism in the prospects for the UK economy fell to minus 31 in June 2023 from minus 6 in May… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Inflation: Bloomberg reports ‘the UK is weighing options to blunt the cost of post-Brexit border checks on European food imports due to start in January over fears they could exacerbate the country’s inflation problem….’ Access to labour: The BBC reports that ministers are calling on the government to ‘completely reappraise’ their immigration policy… HMRC activism: HMRC getting more active as it challenges Prezzo restructuring plan on taxpayer fairness grounds… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Other news: The Observer reports that more than 90% of the top restaurants that it contacted now charge for no-shows… In the US, the National Restaurant Association reports that alcohol to-go is now a key restaurant offering. COMPANY NEWS: Trading still tough at Adnams. The company updated on trading at its AGM held on Friday 30th June 2023 saying…. • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Domino’s Pizza shareholders on Friday approved proposals to amend its remuneration policy… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Pizza Pilgrims has reported its FY numbers for the period ended 26 June 2022 to Companies House…. • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Sky News reports that Pulpex, a manufacturer of sustainable packaging backed by Diageo, is to ‘unveil a new round of funding to enable the delivery of a commercially scalable production line….’ Heartwood Collection, formerly known as The Brasserie Bar Co, has announced it has secured an additional £100m funding to support its rollout into freehold pubs and pubs with rooms…. The Sun reports that liquidators of a Gino D’Acampo restaurant chain have launched an investigation into… Red Oak Taverns has exchanged contracts to purchase two pubs from Everards, The Croft, Wednesbury and The Bulls Head, Clipston, near Market Harborough…. The MCA reports that joint MD of Robinsons Brewery, Oliver Robinson, plans to be ‘braver’ with prices… Constellation Brands reported first-quarter results on Friday that came in ahead of Wall Street expectations… Danish operator Joe & the Juice has reported 2022 revenues up 49% in the 12 months ended 31 December 2022 at DKK 1.7bn. Operating profit hit DKK 277m for the year… 23.5 Degrees, Starbucks first UK franchised business partner, is to open its 100th store on 30 June in Tamworth. HOTELS & LEISURE TRAVEL: Travel Weekly reports that travel agents are upbeat on sales despite concerns the family holiday market could be hit by increased mortgage costs…. Nats reports it handled 2.24 million flights in the year to March, up 75% YoY, but warned that it could take a decade for the business to recover the income shortfall suffered as a result of Covid-19…. Heathrow reports that ‘over the first five months of the year, we have seen a strong recovery in traffic at Heathrow, with 30 million passengers travelling through the airport….’ • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Current Heathrow CEO John Holland-Kaye is set to be replaced by Copenhagen airport’s Thomas Woldbye later this year…. OTHER LEISURE: US prosecutors on Thursday charged three men with insider trading after they made more than $22m from tips that Digital World Acquisition Corp (DWAC) was to merge with Trump Media & Technology Group. The men are Michael Shvartsman, Gerald Shvartsman and Bruce Garelick. Tesla delivered a record number of vehicles in Q2. The company reports that it delivered 466,140 vehicles in the second quarter, which was more than 80% higher than a year earlier. FINANCE & MARKETS: Nationwide HPI shows house prices rose 0.1% MoM in June, with the annual rate ‘broadly stable’ at minus 3.5%…. Recession either avoided or postponed. UK GDP grew 0.1% in Q1, in line with economists’ expectations…. Sterling up at $1.2705 and €1.1635. Oil higher at $75.32. UK 10yr gilt yield up 4bps at 4.40%. World markets up on Friday & London set to open around 29pts higher as at 6.30am. RETAIL WITH NICK BUBB: • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. |
|
