Langton Capital – 2023-02-20 – Delivery, drink sales, contactless, WFH, trains, RTN, Man Utd etc.:
Delivery, drink sales, contactless, WFH, trains, RTN, Man Utd etc.:A DAY IN THE LIFE: Bad as I am at taking my own advice, when preparing things, I try to remind myself of the true but rather annoying saying ‘measure twice and cut once’. Meaning plan what you’re going to do. And then check your planning and, so long as there’s no reason not to, go ahead and do whatever it was you were going to do in the first place and that, it has to be said, is wise counsel. At least that’s the theory meaning that it’s something of a mystery as to how I’ve got so many Polyfilla-filled holes in my walls, random tears and pencil marks our wallpaper and redundant screws sticking out of doorframes and the like. But maybe not as, whatever the theory, it seems somehow incongruous to spend two hours cooking something that it takes ten minutes to eat and, if you carry that theory into your various DIY tasks, the above is what you’re pretty likely to get. Anyway, whilst Hull City has only managed two points from the last nine, it’s still the start of another week so, without further ado, let’s move on to the news: LANGTON EMAIL: The Free Email is now written in short form. Extended versions of many stories (after the ellipses) 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 https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN PUBS & RESTAURANTS: Delivery and takeaway: CGA has reported that delivery and takeaway sales ‘slips in January as consumers tighten spending’. It says ‘January’s delivery and takeaway sales at Britain’s top managed restaurant groups were 2% down on January 2022…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Drink sales: CGA by NielsenIQ’s Drinks Recovery Tracker shows that On Premise continued a strong start to the year for drinks sales with 12% growth YoY for the week ending 11 February… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Contactless spending: New Barclays data has suggested that ‘contactless users made an average of 220 ‘touch and go’ transactions last year – totalling £3,327 per person… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Food to Go: Lumina Intelligence has reported that the UK food to go market should grow by 4.1% in 2023, to reach a total value of £22bn… Trading in the US NRN comments that US Commerce Dept data suggests that spending is holding up better than might have been expected. Official numbers show ‘spending was particularly robust at restaurants, up 7.2% versus December and up more than 25% versus the same period last year’ reports NRN… Remaining in the USA, CGA reports on drinks sales in the country. It says ‘following a slight reduction in velocity to February 4, the latest week has seen growth of +7%, with all key states positive vs the previous week.’ CGA adds ‘these trends are driven by both traffic (+4%) and check value (+3%).’ Work from home: Amazon has announced that its office staff will now be required to work in-person at least 3 days a week… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Rail strikes: RMT union members will strike on 16, 18 and 30 March, and 1 April, the start of Easter school holidays for many… Other news: The Telegraph reports that supermarket vouchers will be given on a test basis to members of the public in Wolverhampton for increasing their daily step count and eating more healthy foods. COMPANY NEWS: Activist investor, Oasis Management Company, has called on The Restaurant Group to take ‘immediate steps to restore market confidence…’ • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Tasty’s CFO, Mayuri Vachhani, is to step down from the casual dining chain on 31 March, with Ian Davies set to be appointed as her replacement. Tortilla is set to open its 84th restaurant on 24 February, located in Greenwich by Cutty Sark. The restaurant will have seats for over 40 people across two floors. The restaurant will be offering 2-for-1 on burritos to celebrate the launch. Devon-based pub company and brewer Heavitree reports full year turnover increased by 57% to £7.3m for the period to 31 October 2022… Bill’s reports revenue LfL growth of 20.5% for the year ending 2 January 2022. Total revenue was £74m with adjusted EBITDA of £7.6m, up from £1.5m the year prior. The company closed 12 sites during the period, bringing the casual dining chain down to a total estate of 49. Prior to the pandemic, Bill’s operated an estate of c.80 sites. Brewdog is to expand in China after partnering with brewing giant Budweiser. Brewdog founder James Watt says the deal is “transformational.” He says it will bring the company to “every corner of the world’s biggest beer market”. BTC Hospitality Investments – owner of Soho Coffee, Apostrophe Restaurants and Euphorium bakery – recently reported its full year numbers for the period ended 30 January 2022 to Companies House…. • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The Grocer magazine reports that Morrison’s has increased prices by around 18% over the last year, some 2x the rate of rival supermarket chain Sainsbury. Critics had warned at the time of the highly leveraged takeover by US PE house Clayton, Dubilier & Rice in October 2021 that such a move could lead to higher prices. Cornish Bakery reports EBITDA of £4.2m in its full year to May 2022 as it continued to invest in new openings. The company reported a profit before tax of £3.1m and also highlighted that its Net Promoter Score moved from ‘good’ to ‘great’. Texas Roadhouse last week reported Q4 & full year numbers saying that revenue (for the 12mths) rose by 15.9% to $3.5bn. In Q4, it says ‘comparable restaurant sales increased 7.3% at company restaurants and increased 7.2% at domestic franchise restaurants…’ HOLIDAYS & LEISURE TRAVEL: European Travel Commission (ETC) data shows that there was a recovery of 75% of 2019 travel volumes to Europe last year…. A poll by Nationwide Building Society has found that 39% of people have already booked a holiday either in the UK or abroad for this year… There have been reports of long delays of up to six hours for coaches of children returning from ski trips to the continent. Border Force staff in the Public and Commercial Services union began a four-day strike in Dover, Calais, Coquelles and Dunkirk on Friday. OTHER LEISURE: Sheikh Jassim bin Hamad Al Thani, the chairman of one of Qatar’s biggest banks, has confirmed his foundation will bid to buy Manchester United. The Sheikh’s bid will compete against reported bids by Ineos (Sir Jim Ratcliffe’s company) and American hedge fund Elliott. Hollywood Bowl last week announced the acquisition of HLD Investments Inc. (operating as YYC Bowling & Entertainment), Mountain View Bowl Inc and Wong and Lewis Investments Inc. (operating as Let’s Bowl), three Canadian-based bowling businesses, for a combined total consideration of CAD 12 million (approximately £7.5 million)… FINANCE & MARKETS: YouGov has reported that ‘consumer confidence increased by 2.4 points in January 2023…’ The ONS reported last week that the headline rate of CPI declined to 10.1% in the year to January, the lowest level since September… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The ONS reports that core inflation, which excludes energy, food, alcohol and tobacco, fell to 5.8% in the year to January from December’s 6.3%. The ONS also commented on average earnings saying that wages including bonuses rose by 5.9% in the year to December, down from 6.4% in the year to November… Sterling little changed over the last week at $1.2035 and €1.1259. Oil up over the week at $84.24. UK 10yr gilt yield up to 3.53% from 3.30% a week ago. Markets mixed on Friday & London set to open up around 30pts as at 6.30am. 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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