ROO, XPF, Heineken, NCL, Easter trading, holiday demand & other:

A DAY IN THE LIFE:

Well, 24 degrees and sun on Friday but, come Sunday, it peaked scarcely into double figures and reportedly fell to one degree overnight.

So a touch of frost if I’d been up early enough to see it but, whilst I’ve seen frost and don’t need to see it too often to know what it is, I haven’t before celebrated The Mighty Hull City staying in the Championship after the last match of the season on goal difference and that’s most likely what prevented me from seeing the dawn.

Anyway, cruel, cruel game.

The matches went our way, nobody seemed willing to risk an injury and commiserations to Luton who, although they shipped in five at the wrong end of the pitch, probably have some right to be upset that the jammy, slippery Tigers scraped a draw and sent them down in the process.

But those are breaks.

Congrats also to PNE, begrudgingly to Derby who managed a burst of speed towards season’s end and thanks extended to WBA.

Let’s hope it’s not so tight at the end of next season and here’s the news:

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DELIVEROO – RECOMMENDED BID AT 180 PENCE PER SHARE:

Deliveroo has this morning announced the receipt of a formal bid for the company at 180p per share from DoorDash and our comments are set out below:

Formal bid: Deliveroo reports that it has reached agreement on the terms of a recommended final cash offer to be made by DoorDash for Deliveroo at 180p per share. The Acquisition values the entire issued and to be issued ordinary share capital of Deliveroo at approximately £2.9 billion on a fully diluted basis. DoorDash has confirmed that the terms ‘are final and will not be increased.’ As is usual in such cases, DoorDash reserves the right to increase the offer if there is an approach by a third party.

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PUBS & RESTAURANTS:

Trading:

The sun helps. Customers ultimately run out of money, of course but, in the meantime, it never hurts to get cash in the till as rapidly as possible and, in that context, fair weather is a definite positive. CGA reports that the weather, plus a late Easter, ‘combined to make it a bumper first half of April for On Premise drinks sales.’ It’s Daily Drinks Tracker shows that wet sales in the weeks to 5 and 12 April were up on last year by 9% and 7% respectively…

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High Street:

Chairman of Loungers and now chair of the newly formed High Street Regeneration Group, Alex Reilley, has said that rising taxes are harming job creation….

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The MA reports that rising costs have forced a number of producers and pub companies to increase prices this year to date. It says Diageo, Heineken and Stonegate have all increased beer prices for pub customers so far. They are unlikely to be the last producers and operators to move prices higher.

Other news:

Profit warnings: Accountancy firm EY has reported that the number of UK listed companies warning on profits has risen sharply since President Trump made his various threats to introduce or increase tariffs….

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The BII reports that it ‘has begun the search for their new Chair, with current Chair, Mark Robson, stepping down later this year.’ The role is ‘a voluntary position that oversees the board of trustees, made up of pub operators and industry experts, guiding and supporting the CEO and Senior Leadership Team.’

In the US, KPMG reports that consumers expect to spend 7% over the summer in restaurants this year than they did last….

COMPANY NEWS:

Heineken is reportedly set to invest £40m into its Star Pubs operation in a move that should create around 1,000 jobs…

XP Factory has updated on trading saying that it generated record Group revenue in the year to end-March 2025 of £57.3m, up 17% vs prior year….

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Deliveroo staff are reported to be in line for a £65m payout as a result of the likely £2.7bn sale of the company to DoorDash. Deliveroo reports that its board is ‘minded to recommend such an offer to Deliveroo shareholders’ if a formal offer is received.

Drinks Business reports that C&C Group has made a seven-figure investment into its Magners cider brand this week in a bid to appeal to consumers during the warm weather….

The MCA reports that OakNorth Bank has provided £30m as part of a £190m club loan to support Fortress Investment Group and Lion Capital’s acquisition of all-day café-bar operator Loungers.

Punch Pubs & Co reports that it has added to its growing portfolio with the acquisition of The Ribs of Beef pub in Norwich.

The Wendy’s Co in the US has reported Q1 numbers saying that global systemwide sales were $3.4 billion, a decrease of 1.1%. it adds that ‘in the U.S. we held both traffic and dollar share in a challenging consumer environment, and in our International business we grew systemwide sales by 8.9%…’

Sky News reports that the owners of Hovis (PR firm Endless) and Kingsmill (AB Foods), two of Britain’s leading bread producers, are in talks about a historic merger amid a decades-long decline in the sale of supermarket loaves.

HOLIDAYS & LEISURE TRAVEL:

Norwegian Cruise Lines has reported Q1 numbers deemed by the market to be disappointing. The company reports that revenues fell by 3% to $2.13 billion and adjusted EBITDA fell by 2% to $453 million compared to US$464 million last year…

OTHER LEISURE:

Barbie maker Mattel has said it will have to raise prices of some of its toys in the US as a result of President Donald Trump’s tariffs.

Ireland’s data watchdog has fined Tiktok €530m for illegally transferring European user data to China without properly informing users.

The launch of Grand Theft Auto VI is to be delayed. Take-Two Interactive now says the release date will be during May 2026.

Microsoft has raised Xbox prices globally. Sony has done the same with PlayStation 5 prices whilst Nintendo has delayed Switch 2 pre-orders all in response to uncertainty in the face of US President Trump’s tariff bluster and flip-flopping.

FINANCE & MARKETS:

Eurozone inflation came in at 2.2 per cent in the year to April, slightly ahead of estimates of 2.1 per cent.

The Bank of England meets on Thursday to announce its UK interest rate decision. The MPC is thought very likely to cut rates by 0.25%.

The US Labour Dept says that employers added 177,000 jobs in April and the unemployment rate in the US remained unchanged at 4.2%.

Sterling slightly weaker at $1.3301 and €1.1750. Oil lower at $61.21. UK 10 year gilt yield up 3 basis points at 4.51%. World markets better for the most part yesterday but Far East lower today & London set to open around 9 points down as at 6.30am.

RETAIL WITH NICK BUBB:

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