Langton Capital – 2023-07-07 – JET2, CCH, XPF, Constellation Brands, interest rates, inflation, strikes etc.:
JET2, CCH, XPF, Constellation Brands, interest rates, inflation, strikes etc.:A DAY IN THE LIFE: Film buffs are fretting about the upcoming clash between Barbie and Oppenheimer. They’re asking if you can’t watch both films the instant they hit the screens, will it ruin your life, etc. and, presumably in order to help them out, a Barbenheimer industry has sprung up whereby you can purchase T-shirts, posters and mugs featuring a mashup of both films. And some of them look rather good. Not that I’ll be wearing such a T-shirt in EC2 any time soon. But the pics are suitably jarring though, I have to say, I’d have thought the obvious one was to have an inanely grinning Ken saying ‘I am become death, the destroyer of worlds’ whilst supping a soda and carrying a surfboard. Anyway, not long to wait on those two. Have a great weekend and 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 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: Consumer behaviour: Currys MD Alex Baldock claims that consumers are ‘being more careful with their money’ after sales fell 7% in the year to 29 April…. Inflation – mud-slinging. Bank of England Governor Andrew Bailey has accused some retailers of profiteering from inflated petrol and diesel costs… • 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. However, the beleaguered Mr Bailey’s credibility is not what it perhaps once was. AO World founder & CEO John Roberts has accused the UK of ‘fantasyland economics’, saying that companies are criticised for raising prices but face pressure to increase staff wages…. Strikes The RMT union has announced that its London Underground workers will strike from Sunday 23 July until Friday 28 July in a row over pensions, job cuts and working conditions… • 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. WFH Property management platform Re-leased reports that the length of UK office leases has fallen to the lowest level on record while vacancies rates have risen sharply… • 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. GROWTH AND HOW YOU DO IT: We commented to clients on price vs volume and mix changes a few weeks ago: Summary: LfL sales performance is often seen as the Holy Grail of performance measurement. A frequent comment across leisure is that sales are up on last year but down (or certainly down post inflation) on pre-Covid numbers. Drilling in, we often find that revenues are up but volumes, where these can easily be measured, are down. But what the above may not tell you is what’s happened to mix. Products may not be like for like. • 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. COMPANY NEWS: Coca-Cola HBC AG has updated on trading saying that it had a ‘stronger than anticipated finish to the first six months of the year…’ • 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. The latest La Bottega restaurant has opened in Sheffield. Constellation Brands has announced that ‘Rob Sands will retire from his role as Chair of Constellation’s Board of Directors and will not stand for re-election as Board Chair following the company’s Annual Meeting of Stockholders on July 18, 2023….’ XP Factory’s Boom Battle Bars is to open its first overseas site in the DoubleTree by Hilton Dubai – Jumeirah Beach this month. Various Eateries appoints Connie Salmon as finance director. Salmon has previously been the financial director at healthcare services company Liaise as well as Novus Leisure. MCA reports that Wingstop is aiming for up to 300 stores across the UK over the next ten years… • 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. Espresso House and Autogrill Deutschland have reached a new licensing agreement which will see the Swedish coffee chain scale its presence at airports and railway stations across Germany…. HOTELS & LEISURE TRAVEL: Jet2 shares finished yesterday around 10.5% lower as the company commented that consumers seemed to be becoming more cautious in their spending. Controllers at Eurocontrol, the European air traffic management body, are to strike this summer in a move that could put a large number of holiday flights at risk. More than three-quarters of UK-based Travel Management Companies (TMCs) are expecting to achieve YoY sales 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. Iata figures reveal that global air traffic returned to 96% of the 2019 level in May, with passenger traffic worldwide up 39%…. In a second announcement yesterday, Jet2 announced that its executive chairman Philip Meeson is to step down from the board…. OTHER LEISURE: Meta has launched Threads, its Instagram-linked Twitter alternative. Some 30m people are reported to have signed up on the first day it was available…. FINANCE & MARKETS: JP Morgan has forecast the UK’s terminal interest rate to be 5.75% by November, but warned rates could possibly go to 7% under ‘some scenarios’…. A Knight Frank report shows that the UK has suffered the worst house price falls of any major European economy… • 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. S&P’s Purchasing Managers’ Index for June has shown that ‘UK construction companies signalled a renewed decline in business activity during June as a steep and accelerated downturn in house building weighed on overall workloads.’ The Construction PMI fell to 48.9 in June, down from 51.6 in May…. • 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. Zoopla has reported that 68 per cent of west London homeowners have seen the value of their property decrease since last November… • 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. Sterling mixed at $1.274 and €1.1693. Oil higher at $76.78. UK 10yr gilt yield sharply higher at 4.65% having hit 15yr highs of over 4.70% earlier in the day. World markets down yesterday but London set to open around a rather fragile 8pts higher as at 6.30am. 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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