Langton Capital – 2022-06-13 – Mobility data, inflation, labour cost, cost of living, the economy, IPOs etc.:
Mobility data, inflation, labour cost, cost of living, the economy, IPOs etc.:A DAY IN THE LIFE: It was suggested to me over the weekend that, when you drive diagonally the breadth of the country from North Yorkshire to deepest, darkest West Wales in order to pick up a puppy, you are going to a huge and expensive effort just to make your life worse. • See premium. Reply to this email to upgrade. 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. See Twitter for in-day comment. Let us know if you would like an example of the Premium Email or to comment on the new format. Prices for the Premium are £345 for one subscription, £595 for multiple, both plus VAT. Reply to this email to order & request invoice. Or sign up for easy in, easy out monthly option HERE PUBS & RESTAURANTS: Inflation & labour costs: Stagflation appears to be a non-negligible risk as employers struggle to attract staff despite slack demand for end-products in some area. • See premium. Reply to this email to upgrade. CGA and Prestige Purchasing report that foodservice prices in April were 10% higher than in April 2021… • See premium. Reply to this email to upgrade. Cost of living crisis: Whilst a clear picture will not appear until after the current squeeze has developed further, it appears, per the ONS, that 52% of UK households have reduced the amount of gas and electricity they use in order to save costs. • See premium. Reply to this email to upgrade. A survey from HGEM shows that 87% of consumers are already affected by the cost-of-living crisis… Lumina Intelligence Eating and Drinking Out Panel has found that the proportion of consumers eating and drinking out has decreased by -2ppts to 54% in the four weeks to 15 May 2022. Food strategy. The government’s food strategy looks to have been watered down in face of the cost-of-living crisis. • See premium. Reply to this email to upgrade. Economy: The CBI has warned on economic growth… • See premium. Reply to this email to upgrade. Trading: The CGA Drinks Recovery Tracker shows average sales by value in Britain’s managed venues in the seven days to Saturday (4 June) were 21% up on the same week in 2019. • See premium. Reply to this email to upgrade. Rail strikes: Government representatives on the Sunday morning circuit over the weekend were floating the idea of strikebreaking… IPOs: The Times has commented on recent IPO failures saying ‘investors who backed the flurry of companies that rode the pandemic sales boom to float on the stock market last year are already nursing losses of almost £10 billion.’ • See premium. Reply to this email to upgrade. Other issues: The Telegraph reports that ‘steak shortages loom as fertiliser prices rocket’. It says that ‘prices are already up by 5pc on the year, but they are now predicted to go through the roof.’ Five percent, it must be said, is currently around half the level of inflation generally. • See premium. Reply to this email to upgrade. KAM has commented on the wine industry saying that, in a survey of 500 wine consumers, some 53% said that it was important that the wine be natural and 48% said that it should be produced with sustainability in mind… UK Hospitality has announced the appointment of a new Skills Director, Sandra Kelly… An independent review has recommended that smoking in hospitality outdoor areas alongside other external spaces should be banned… Cask Marque has launched the new website for Cask Ale Week. Last year over 32 million people were reached using #CaskAleWeek across multiple social media platforms. Cask Marque says that ‘with the support of the trade associations BBPA, UKH and Bii [it] will engage their membership and nearer the time a full media campaign will be announced and activated. CAMRA have already committed to have a consumer marketing campaign for cask during the month of September.’ The BBC reports that ice cream vendors could be forced to ditch their livelihoods as fuel prices rise. Industry body chairman Maurice “Moz” Murray, said of this summer: “Beyond doubt, we will lose vans.” HOLIDAYS & LEISURE TRAVEL: CNBC reports that the US will lift the Covid testing requirement for inbound air travellers. The decision to reverse the testing requirement will be reevaluated by the U.S. Centers for Disease Control and Prevention in 90 days. IAG boss Luis Gallego has said that Covid and Brexit have played a major role in airport disruption. He says that ministers must shoulder some of the blame. FINANCE & MARKETS: The Labour Dept in the US has reported that inflation hit 8.6% in May. It says that, as in the UK, the rising cost of living has been squeezing household spending. Food prices were up over 10% in the year to May and energy costs were up by more than 34%. A poll of US consumers found that 63% now consider inflation to be a very serious problem. Some 69% say they have been negatively impacted. The British Chambers of Commerce is do something substantial to boost world trade in goods and services. Sterling sharply lower at $1.2282 and €1.1708. Oil price lower at $120.02. UK 10yr gilt yield sharply higher at 2.43%. World markets very weak on Friday with London set to open around 45pts lower as at 6.30am. FORTHCOMING NEWS: A little busier this week. Vianet reports full year numbers on Tuesday with Everyman Media’s AGM to be held on the same day. Whitbread hosts its AGM on Wednesday, when it will update on Q1 trading. Tortilla’s AGM is also Wednesday and 888 Holdings also hosts its annual meeting. RETAIL WITH NICK BUBB: • See premium. Reply to this email to upgrade. |
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