Langton Capital – 2022-07-29 – Mobility data, delivery, costs & prices, Shepherd Neame, flights etc.:
Mobility data, delivery, costs & prices, Shepherd Neame, flights etc.:A DAY IN THE LIFE: Well, we’ve made it to the end of another week and, as the dog days of August are just around the corner, it’s likely that news flow will dry up a little. That said, US Q2 numbers are still coming through thick and fast and we do have the Bank of England to cheer us up with its commentary on interest rates on Thursday. Bit pushed so, have a great weekend and 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 DELIVERY – SPREADSHEETS MEET REALITY… We commented last week on this subject to clients and include a summary of points below. The Real World: A Turning Point for Delivery Introduction: Like many people, at least when young, I played a marvellous game of tennis. But only when I was playing against a brick wall. Then in the real world, where I had opponents to think of, the variables increased exponentially and I was, to be honest, rubbish. And the same can be true in business. What looks like a good idea on a spreadsheet can be the worst load of money-losing old garbage when put into practice. Here we consider delivery (and why valuing it against the backdrop of a total restaurant shutdown may not have been a good idea…) • See premium. Reply for sample or to upgrade. Single £324, multiple £595. PUBS & RESTAURANTS: Selling prices: The ONS reports that the current average cost of a pint of draught lager has now tipped over the £4 mark – up almost 3.3% since January… Utility costs: The Morning Advertiser reports that Regency Purchasing Group has said the hospitality sector is now in the middle of a ‘perfect storm’ amid rising costs… • See premium. Reply for sample or to upgrade. Single £324, multiple £595. Supply issues: Supply issues may rear its ugly head again as the Unite union has revealed plans for a strike next month that it says will bring operations at the UK’s largest container port to a ‘standstill’… Consumer discretionary income: Money Saving Expert Martin Lewis has told the BBC that ‘Year-on-year from last October to this October a typical house will be paying £2,300 a year more on their energy bills alone.’ • See premium. Reply for sample or to upgrade. Single £324, multiple £595. Other news: The Night Tube in London is to resume service this weekend for the first time since the Covid-19 pandemic began in 2020. The RMT union has announced it is to suspend strike action on the Night Tube following an agreement with TfL about driver rotas. MSE’s Martin Lewis has said that energy bills could hit nearly £4,000 per household next year. He says it will ‘throw many households into a terribly difficult financial situation.’ Capital raising across the UK’s travel and leisure sector is said to have fallen by 75%… Mayor of London Sadiq Khan has encouraged Londoners to make the most of the capital this summer… COMPANY NEWS: Shepherd Neame. Drake & Co reports it is ‘delighted to have acted on behalf of Shepherd Neame Ltd to acquire “off-market” three popular Essex freehold pubs from East Anglia Pub Co… Chipotle plans to raise menu prices by 4% in August to offset inflation. Texas Roadhouse has reported Q2 numbers, saying that revenue rose by 14% to $1.024bn with EPS of 107c (vs 108c). The company says comp sales rose by 7.6% at company restaurants. Rockfish reports sales of £13m, restaurant EBITDA of £2.9m and group EBITDA £1.34m for the year ending April 2022… HOLIDAYS & LEISURE TRAVEL: Ryanair chief Michael O’Leary reports that the carrier is seeing “double-digit increases” in fares this summer despite operating 15% more capacity than in 2019… Accor has reported a ‘very strong’ rebound in activity for its Q2.. Hilton beats its Q2 expectations, with net profit of $367 million compared to $128 million in Q2 2021… Royal Caribbean Group has reported a net loss for Q2 of $0.5bn, compared to a net loss of $1.3bn the year prior… OTHER LEISURE: Amazon and Apple both reported better than expected sales for Q2 yesterday. The numbers brought some relief to the tech sector. FINANCE & MARKETS: The US economy is reported to have shrunk for the second quarter in a row in the three months to July… Referring to Covid loans, the Department for Business, Energy and Industrial Strategy said about 8% of 1.6m borrowers – around 130,000 – did not repay their debts as of March this year. This leaves taxpayers with a bill or around £421m. China has reported that it may miss its growth target. Yesterday, the Politburo said it aims to keep growth within “a reasonable range” and did not mention the official growth target of 5.5% it had earlier set. Sterling up at $1.2188 and €1.1936. Oil lower at $106.90. UK 10yr gilt yield down 10bps at 1.85%. World markets mixed yesterday. London set to open up around 23pts as at 6.30am. FORTHCOMING NEWS: It’s August next week but nonetheless, we have scheduled updates from Gregg’s, Just Eat and Gym Group on this side of the Atlantic and by global majors Marriott, Molson Coors, Shake Shack & YUM Brands on the other. The Bank of England opines on interest rates on Thursday and Halifax briefs on house prices on Friday. RETAIL WITH NICK BUBB: • See premium. Reply for sample or to upgrade. Single £324, multiple £595. |
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