Drink sales, pub closures, rail strikes, inbound tourists, Powerleague etc.:

A DAY IN THE LIFE:

Hello and welcome to another working week, this one with five days.

Having been away a little bit recently, it occurred that an ensuite shower and loo is more a necessity than an option in most cases for hotels and guest houses.

But, whilst nobody wants to pad down the corridor in their jim-jams, the above solution has clearly led to the engineering of loos the size of clothes cupboards and sinks about as big as a small soup bowl, neither of which seem to be intended for use by normally-sized human beings.

And the door may be one of those slide things because there’s no room for one to open on a hinge and, when it comes to the sink, not only can you not fit both hands at once into the bowl but, when you turn the taps on, the water scoots around and jets out around midriff height to either scald or freeze bits of you that you’d rather stayed at a more normal temperature. 

And, since there’s nowhere to hang a towel, when you’re wet, you stay wet. And the floor will look as though you’ve had an unpleasant accident but that’s enough of that, let’s move on to the news:

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PUBS & RESTAURANTS:

Drink sales:

CGA reports that the ‘Easter holidays helped push On Premise drinks sales into double-digit year-on-year growth last week.’ It says that, in the week to 8 April, overall drink sales, which were skewed by the earlier Easter, rose by 18%…

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Pub closures:

The FT opines, regarding the rate of pub closures, that ‘the woes of pubs are less terminal than declinists claim.’ It points out that ‘a proportion reopen under new management. And some trends responsible for boozer gloom are themselves positive…’

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Rail strikes:

The RMT union reports that it has received an “updated offer” from the Rail Delivery Group, which represents 14 operators. The RMT last month suspended planned walkouts on 30 March and 1 April following progress in talks…

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Consumer behaviour:

The BBC reports that shoppers are switching from fresh to frozen food to mitigate food price inflation, which is running at 18.2%. According to Kantar, total grocery volumes fell by 4%, while the volume of frozen goods bought was unchanged.

Other news:

Data Bridge Market Research reports that the flavoured spirits sector, which grew to a value of $16.03bn in 2021, has been forecast to be valued at $50.77bn by 2029. The research claims that flavoured spirits are a growing category that is frequently used in cocktails, mixed drinks and shooters.

COMPANY NEWS:

The MCA reports that Island Poké is actively looking for new sites in central London as it plans to open 10 new sites in the capital, with a focus on high-density office locations. Hux Norman, head of property and Island Poké said the business is ‘very confident about the central London market with ‘plenty of territory to go for’.

Bao is opening a dumpling house in London’s Marylebone in May, making it the Taiwanese street food restaurant’s fifth site in London. Bao Mary will be the group’s first restaurant to focus on dumplings.

Restaurant Online reports that SpiceBox’s future is unclear after it closes its original Walthamstow restaurant later in April. The vegan Indian brand’s founder Grace Regan said ‘Rather than mourn the end, I would like to spend the next two and a half weeks celebrating all that we have achieved over the last four and a half years’.

The GMB union has said that 600 of its workers walked out on Sunday in a three-day strike over pay. Amazon says that minimum pay has risen by 37% since 2018.

HOLIDAYS & LEISURE TRAVEL:

Trade association UKinbound found that 86% of members were feeling confident about bookings and revenue for the next 12 months, up from 63% of respondents in April 2022, 34% in April 2021 and 11% in April 2020…

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OTHER LEISURE:

Powerleague for sale. The Times reports that Patron Capital ‘has kicked off the search for a buyer for its Powerleague five-a-side football chain with an expected £60 million price tag.’ Patron has owned Powerleague since 2009. It is reported to have appointed finnCap Cavendish to help it to explore options.

Finland-based Rovio Entertainment is reported to be in talks with Sega Sammy about a possible takeover. Rovio announced in February that it had launched a review of the business, including holding discussions over its potential sale…

Sky reports that private equity house Carlyle is ‘in talks about a major investment in Manchester United Football Club as the auction of the Premier League side nears its concluding stages.’ Sky News reports that it has ‘learnt that Carlyle is among a handful of parties which have pitched proposals to acquire a minority stake in the Old Trafford outfit.’

Japanese officials have approved controversial plans to build the country’s first gambling resort, to be located in Osaka and opened in 2029. Public opinion has been split, with some concerned about a rise in crime and gambling addiction.

FINANCE & MARKETS:

Chancellor Jeremy Hunt has told journalists in Washington that the British economy is “back” on track after last year’s disastrous mini-Budget and market upheaval. He says he will beat IMF forecasts, which have the UK as the worst performing major economy this year.

Business confidence on the up. Accountant Deloitte reports that confidence across UK finance directors has risen sharply…

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Sterling lower at $1.2405 and€1.1294. Oil price down slightly ate $86.30. UK 10yr gilt yield up 9bps at 3.65%. World markets better on Friday & London set to open up around 17pts as at 6.30am.

RETAIL WITH NICK BUBB:

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