Langton Capital – 2022-11-07 – Trading, prices, labour, Loungers, YUM, Twitter & other:
Trading, prices, labour, Loungers, YUM, Twitter & other:A DAY IN THE LIFE: I tried not to watch I’m A Celebrity last night for fear that money would somehow flow from my eyeball to Matt Hancock’s pocket. But, sadly, I didn’t successfully abstain and, though I can persuade myself that I haven’t yet done anything to boost ad revenues while the former Health Secretary has actually been on-screen, I can’t guarantee to hold that line going forward. However, all is not lost as last year’s winner, Danny Miller, may well be right when he says that the public will relentlessly punish Mr Hancock until they get bored of him & then they will sack him. Similar as it is to his life in politics, that course of events will likely give him a familiar feeling of déjà vu and, with multiple downloads of the app already actioned in the Langton household, we’re prepared to do our bit to help things along. Anyway, whilst we can’t claim that it’s remotely nearly the weekend but, as there’s little choice at this stage, let’s still move 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 PUBS & RESTAURANTS: Trading: CGA has reported that Halloween raised weekend spirits and drinks sales in the UK last week… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Industry prices: The Observer reports that ‘prices of some of the most popular high street meals, snacks and drinks have risen by as much as 26% since 2020 as food outlets face the highest inflation since the 1980s. Restaurant bosses warn of widespread closures as businesses struggle with the costs of heating their premises, staff shortages and rising ingredient prices…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The consumer: Banks and building societies are likely to cut the cost of UK fixed-rate mortgages as the bond markets are now factoring in lower expected peak rates. This should mean less money is taken out of consumers’ pockets… The Money and Pensions Service has reported that a quarter of UK adults have less than £100 set aside in savings. It says this makes them vulnerable to rising costs and unexpected bills. The survey finds that 17% of adults have no savings at all with another 5% having less than £50. Access to labour: With Aldi, other supermarkets & the world in general raising the wages they pay to secure labour, a survey commissioned by Umbrella Training has found that only one in 10 young people were willing to choose a career in the hospitality industry. Some 31% said they would not choose a career in the sector because they perceived it to be low paid… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Upcoming football: World Cup games may be cheaper to watch in the pub than at home, according to a study conducted by gambling.com. The study found that high energy costs mean that it could cost fans £6.17 to watch a game at home, up from 41p during the 2018 World Cup… Other news: The Telegraph comments on the churn of retail units suggesting that Oxford Street has been ‘left drowning in empty shops and American candy stores…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. COMPANY NEWS: Loungers has announced the launch of Brightside, ‘a new restaurant rollout aimed at reinvigorating roadside dining in the UK.’ The company says this will sit alongside Loungers’ existing brands – Lounge and Cosy Club. The first unit is set to open on the A38, south of Exeter, in February 2023, with two additional locations to follow quickly in the spring… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The Alchemist is to open a new unit in York on the corner of Nessgate opposite High Ousegate. The Cornish Bakery has ‘opened another new location in Scotland’s premier design village, Caledonia Park at Gretna Gateway.’ Yum China has reached 78 Lavazza café stores across China, after opening 20 new sites so far this year. The MCA reports that experiential crazy golf business Swingers is looking to focus its growth on the US, although expansion in the UK has not been ruled out. Costa Coffee’s franchise partner in India, Devyani International Limited (DIL), has opened 19 new stores during the last quarter to reach 88 outlets. DIL said Costa Coffee achieved 134% YoY sales growth to reach $2.7m for the three months ended 30 September 2022. Darjeeling Express will return to Kingly Court, Carnaby, where it first opened five years ago, moving form its current Covent Garden site. Restaurant Brands International reports Q3 sales up 14% reaching $10.4bn, driven by strong performance from Tim Hortons, which achieved 12% sales growth in Canada to reach $1.6bn. However, Tim Hortons closed net 18 stores across Canada during Q3, bringing it to 41 net store closures in Canada this year to date. Made.com is expected to go into administration this week. Made.com began trading in 2011 and its shares were listed in the UK only last year at 200p per share, giving the company a valuation of around £775m. HOLIDAYS & LEISURE TRAVEL: Unite said 700 ground-handling, airside transport and cargo staff at Heathrow will strike for three days starting from 18 November, particularly impacting Qatar Airways, which has scheduled an additional 10 flights a week during the World Cup. Unite said other airlines to be “hit heavily” would include Virgin Atlantic, Singapore Airlines, Cathay-Pacific and Emirates. Uber revealed this week that it would hand £615m to UK tax authorities to settle an unpaid VAT claim following an investigation by HMRC, after the 20% tax was applied to rides booked through the app. Taxi firms outside London could be forced to hike their prices by a fifth if Uber wins a high court battle this week that would mean they pay VAT on journeys. Ryanair has this morning posted its largest ever H1 after-tax profit. The period includes the key summer months. The company says it hopes to deliver an after-tax profit of between 1 billion and 1.2 billion euros for the year. It says ‘this cautious guidance will remain hugely dependent on not suffering adverse events this Winter as we did last, which were clearly beyond our control.’ OTHER LEISURE: Flutter has updated on the Fox arbitration process. CEO Peter Jackson says the ‘ruling vindicates the confidence we had in our position on this matter and provides certainty on what it would cost FOX to buy into this business, should they wish to do so. FanDuel is winning in the US market and the clear #1 operator, a position driven by its exceptional market leading product and efficiency in acquiring customers at scale.’ Twitter boss Elon Musk says he has “no choice” but to cut the company’s workforce almost in two… Elon Musk has said that Twitter will move to suspend accounts that impersonate others unless it clearly states it is a “parody” site. FINANCE & MARKETS: The British Chambers of Commerce has called on the PM to help ‘firms through the tough months ahead and then power the UK’s economic recovery.’ It suggests he invest in infrastructure, provide energy support for businesses, tackle the tight labour market and promote export-led growth… US employers added 261k jobs in October. The unemployment rate rose slightly to 3.7%. The Times reports that two more UK property funds have gated themselves, pausing redemptions. It says L&G and M&G have made the move to protect clients in the funds and to avoid the fire sale of assets. Sterling mixed, up vs dollar at $1.1341, but down vs the Euro at €1.1397. Oil higher at $97.65 and UK 10yr gilt yield up 4bps at 3.54%. World markets better on Friday but London set to open down around 47pts as at 6.30am. THE AQUIS MARKET: Broker VSA Capital is hosting an Aquis Day on Tues 29 November at the Royal College of Surgeons (38-43 Lincoln’s Inn Fields, London, WC1A 3PE). The event will feature around 20 companies, who will present to attendants and take part in a competition to win the ‘Britain’s Got Aquis’ title. Judges on the day will include Andy Brough (Schroders) and Judith Mackenzie of Downing LLP. Tickets and details are available HERE Attendance costs £20 – but Langton has a number of complimentary tickets and we’re open to suggestions as to who we should give them to…. Drop us a line. RETAIL WITH NICK BUBB: • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. |
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