Langton Capital – 2023-02-28 – The consumer, footfall, Various Eateries, Safestay, N Ireland, High St etc.:
The consumer, footfall, Various Eateries, Safestay, N Ireland, High St etc.:A DAY IN THE LIFE: Our Skoda, a 2008 model, is coming up to its 15th birthday. It’s been a decent workhorse but, if you apply a 25% reducing balance to depreciate it, you can now just about double its value by filling it with petrol. Indeed, you can treble or quadruple its value if you leave the weekly shop in the boot for any length of time after filling the tank but, with the MOT tests now coming in around the £500 to £700 range, it might be time to say goodbye. And that could prompt shock and plaintiff whines of ‘how much?’ because, having forked out the princely sum of just over ten grand for it in the noughties, we suspect motor vehicle prices could have risen somewhat. But maybe we’re wrong. We live in hope. 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 are £395 for one subscription, £695 for multiple, £995 for very large subscribers, all plus VAT. Or sign up for easy in, easy out monthly option per subscriber HERE https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN PUBS & RESTAURANTS: The consumer: In line with forecasts, Government energy support is set to taper off from April, with the Energy Price Guarantee only providing relief for the portion of energy bills that are over the £3,000 mark, up from £2,500… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Footfall: Springboard reports that for the week ending 25 February, UK footfall was up 1.3% YoY. In terms of week on week change, footfall somewhat inevitably fell back across all three key destination types since the February half term holiday. Deposit Return Scheme: The Herald reports that ‘Westminster could block the Scottish Government’s under-fire Deposit Return Scheme…’ • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. UKHospitality Scotland is urging all Scottish leadership candidates to commit to an immediate halt and review of the Deposit Return Scheme…. Small drinks producers in Scotland could be granted a year-long grace period from the proposed Deposit Return Scheme, due to be implemented in August…. Inflation: The government ‘is set for a fiscal windfall of tens of billions of pounds thanks to stronger growth and lower energy prices’ reports the Institute for Fiscal Studies (IFS). It says this makes ‘the argument not to contribute to higher public sector pay all the more difficult to maintain’… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Northern Ireland. UKH CEO Kate Nicholls comments ‘the initial details of the new deal for trading in Northern Ireland are encouraging and appear to address the key concerns of hospitality businesses…’ • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Supply issues: Lidl has introduced limits on sales of certain fruit and vegetables due to shortages of fresh produce. The company is putting limits of three per customer on sales of peppers, tomatoes and cucumbers. A Lidl spokesperson told the BBC that ‘adverse weather conditions in Spain and Morocco’ had impacted the availability of certain salad items. The ongoing shortage of tomatoes could mean Italian restaurants make white pizzas and tomato-less pasta dishes more prominent menu items… The High Street: Foodservice analyst Peter Backman comments on the drift of some retailers away from the High Street and suggests that this may present both an opportunity and a challenge to hospitality operators… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Rugby and the on trade: The Oxford Partnership reports that this was ‘another great weekend of rugby driving strong sales in pubs.’ it says Round Three of the Guinness Six Nations saw some 27 million pints served (an uplift of +6% versus the equivalent Round Three in 2022)…’ • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Discounting. There is a base level as discounting never quite goes away. Nothing dramatic at the moment, although M&B’s Sizzling Pub Co chain is offering 40% off mains Monday to Thursday this week. Voucher required. COMPANY NEWS: Various Eateries has reported full year numbers to 2 October 2022 saying that revenue was up 82% at £40.7m with adjusted EBITDA of £3.5m, up 193%. The company is reporting a total loss before tax of £7.2m (2021: loss £3.7m) after charging impairment costs of £2.5m… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Red Oak Taverns has announced that it has acquired the Six Bells pub in Madeley near Telford, their third acquisition this year. The company says ‘this single site pub acquisition is a perfect fit with our current estate.’ Bedlam Brewery has been acquired out of administration by several of the business’s directors… The MCA reports that itsu plans to open 18 ‘prime’ sites in 2023 as well as expand internationally through franchise partners. Julian Metcalfe has told MCA ‘In 2022 we broke our record and served 11.2m customers, and in Q4 our regional transactions were up 44%’. BENEFICIARIES OF HIGHER INTEREST RATES: Whilst much of this has been absorbed by the market, it’s worth considering that interest rate rises are not bad news for everybody. • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. HOLIDAYS & LEISURE TRAVEL: Hostel operator Safestay has updated on trading for the year to 31 December 2022 saying that revenues were ‘ahead of market expectations’ at £19.0 million (2021: £6.4 million). The company says ‘adjusted EBITDA is expected to be in line with market expectations of £5.9 million (2021: Loss of £1.0 million)…’ • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Pierre & Vacances is set to open the 71-apartment Residence Cap Cassis Calanques near Marseilles in June. OTHER LEISURE: Warner Bros. Discovery reported a Q4 net loss of $2.1bn, including a $217m loss from its streaming division… Active entertainment company Gravity has secured £30 million in new funding in order to drive growth… • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. Sky reports that shares in Manchester United have fallen by as much as 12% following a report that the club’s owners want bidders to raise their offers if the team is to be sold. The FT has picked up that ‘the Glazer family was not happy with the sums on the table following the conclusion of a soft deadline for bids earlier this month’. Pure Leisure Group has added a 19th holiday resort to its portfolio, purchasing Lakesway Holiday Home and Lodge Park in Kendal for an undisclosed sum. Twitter product manager Esther Crawford has left the company. FINANCE & MARKETS: Sterling up at $1.204 and €1.1372. Oil very slightly higher at $82.67 and UK 10yr gilt yield up another 6bps at 3.91%. World markets mostly better yesterday with London set to open broadly unchanged. RETAIL WITH NICK BUBB: • See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out. |
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