Trading, costs, WFH, Soho House, JDW, Shaftesbury & other:

A DAY IN THE LIFE:

Thinking about the almost limitless list of words that I have trouble spelling and I find that it’s boundary not boundry but foundry not foundary

Simples, yes.

But then am I in a quandry when it comes to spelling or am I in a quandary?

Well, it’s the latter, it would appear but, when it comes to collectible or collectable, I’m told that both words are correct and you can pick and choose, mix and match in the same sentence if you so wish.

Ditto enquire / inquire, advisor / adviser and a few others but heaven help you if you refer to a translator as a translater or, for that matter, a doctor as a docter.

Anyway, enough of that. On to (or should it be ‘onto’) the news:

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PUBS & RESTAURANTS:

Trading:

Hospitality Data Insights reports that UK hospitality sales rose by 1.9% year-on-year over the 12 weeks to 11 March 2025, somewhat below the general rate of inflation. HDI reports that growth slowed in the last four weeks to 1.8%. Sales growth registered over 4% in the prior 12 week period…

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Delivery:

Despite the slowing growth referred to by HDI above, Lumina Intelligence reports that the top 10 foodservice brands by delivery turnover should grow delivery sales by a further 2.9% in 2025, to a combined value of £4bn….

WFH:

Recruitment company Hays reports that almost half of professionals would consider leaving their job if their employer obliged them to return to the office full time…

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Costs:

UKH reminds that sector that it faces a £3.4bn hit over the next year from tax and NLW rises announced in the autumn Budget. UKH says that the minimum wage rise will add a £1.9bn burden, while an extra £1bn will be paid in NICs after the tax was raised on employers and expanded to take in more part-time workers. The reduction in business rate relief will cost a further £900m….

Other news:

Continental spirits company shares responded positively to the news that China was to postpone its planned additional customs duties on Cognac for six months.

SIBA reminds members in Scotland that ‘changes enacted today mean that around 700 pub tenants will have a new right to stock a guest beer in Scotland, which could expand consumer choice and support local Scottish brewers.’

Pubwatch has reported that independent research reveals that ‘86% of licensees, staff, police and those working within organisations such as local authorities, believe that Pubwatches help to create safer drinking environments…..’

Spirits sales in the US are reported to have fallen in both value and volume terms in February. The US National Alcohol Beverage Control Association reports volumes down 1.1% and sales value down 0.8% in the month.

COMPANY NEWS:

Soho House & Co Inc. has reported numbers for Q4 and for FY24 saying that it generated total revenues of $305.6 million in Q4, 5.4% year-over-year growth. It adds that membership revenues grew to $109.3 million, a 15.6% increase year-over-year and In-House revenues were $123.4 million, down 1.5% year-over-year. The company reports REVPAR up 1% and other revenues of $72.8 million, up 3.8% year-over-year ‘supported by strong growth in Soho Home’. The company reports that the ‘net loss attributable to Soho House & Co Inc. was $91.7 million or $0.47 per share, inclusive of $51.6 million non-cash FX losses and $19.8 million of non-cash impairment charges…’

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JDW on Friday & Monday spent a further £4.8m in buying back some 860k of its own shares for cancellation at an average price of around 557p.

Shaftesbury reports today that its ‘long-term partnership with Norges Bank Investment Management, the Norwegian sovereign wealth fund, in respect of its Covent Garden estate. NBIM has acquired a 25 per cent non-controlling interest in the Covent Garden estate with Shaftesbury Capital retaining 75 per cent ownership and management control over the estate.’

Cooks Coffee Company yesterday announced that its Esquires brand in Ireland has been awarded the 2025 EU Business Irish Enterprise Award for Organic Coffee Shop Enterprise of the Year.

Hooters of America is reported to have filed for bankruptcy in Texas. The firm directly owns and operates 151 restaurants, with another 154 operated by franchisees.

Whilst only covering a very short time period, Butcombe Group has highlighted the importance of decent weather when it reports that it ‘experienced its biggest ever day of trade in its managed pubs for Mothering Sunday, breaking its previous record set on Christmas Day last year….’

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JDW on Friday bought back another 110k of its own shares for cancellation at an average price of 561p.

CFO Matt Crumple reports on the establishment of Arcturus as the parent company to Asian restaurant brands Pho Restaurant, Rosa’s Thai, and Mowgli Street Food. He notes on Linked In that he is ‘looking forward to working with Jason Cotta, Robin Rowland OBE and TriSpan creating what’s set to be the UK’s largest multi-brand casual dining operator in the Asian segment….’

Yum! Brands in the US has reported that David Gibbs, Chief Executive Officer, has informed the Board of Directors of his intention to retire from the Company in the next year. YUM says it ‘has established a succession planning committee and will work deliberately to identify and appoint the best candidate to lead the company’s next chapter’.

Majestic is reported to have entered into a formal agreement to acquire major wine and spirits distributor Enotria & Coe.

In the US, Uber and OpenTable ‘have formed a new strategic partnership to provide seamless dining experiences for millions of highly engaged consumers around the world.’ Uber reports ‘the first-of-its-kind collaboration will pair Uber’s ride-hailing and delivery services with OpenTable’s expansive restaurant network across the United States, Canada, United Kingdom, Mexico, Australia and Ireland.’

OTHER LEISURE:

Playtech plc has announced that completion of the revised Caliplay strategic agreement occurred on 31 March 2025.

Aston Martin is to sell its Formula One team stake to help raise cash.

FINANCE & MARKETS:

Downing Street has indicated that the UK expects to be hit by US tariffs from Wednesday, tomorrow….

US president Donald Trump has said he ‘couldn’t care less’ if tariffs raise the price of foreign manufactured cars in the US. He says it will push consumers towards American products.

CNBC is reporting that early estimates of US GDP growth in Q1 could be as low as 0.3%, a sharp drop from the 2.3% recorded in Q4, before Mr Trump returned to the White House.

Sterling down slightly at $1.2935 and €1.1955. Oil up at $74.94. UK 10 year gilt yield unchanged at 4.70%. World markets down yesterday but Far East up in Tuesday trade & London set to open up around 36 points higher as at 6.30am.

RETAIL WITH NICK BUBB:

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