Langton Capital – 2023-08-24 – Vinoteca, JDW, BVIC, Peloton, delivery, the consumer, costs, WFH etc.:
Vinoteca, JDW, BVIC, Peloton, delivery, the consumer, costs, WFH etc.:A DAY IN THE LIFE: With the sun sinking in the sky for the last eight weeks now, it’s cool in the mornings and warm in the afternoons. And, whilst that is what it is, it means that all of my pullovers are gradually moving from my place of abode to the office because, whilst they may be needed at stupid o-clock in the morning, I would no sooner wear a pullover in the evening than roast myself slowly over an open fire. Which seems sensible but, at some point, there’s going to have to be an ‘empty leg’. That is a journey in one direction with nothing in tow and one in the other carrying a massive bag of assorted clothing such that, come the spring, we can the whole process over again. Anyway, getting a bit ahead of myself there. We’re in the New Forest for the upcoming last (and shortest) week of the summer holidays but we’re still kicking it in London at the moment. Hence, 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 THE CONSUMER: Housing costs: The Telegraph reports that Halifax figures show homeowners in London and the South East were spending 49% of their income on servicing their mortgages, up from 42% a year ago…. • 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. Energy costs: Whilst the energy cap is set to fall, the Resolution Foundation says that bills will rise higher than last year for millions this winter. It says customers will have to pay for energy suppliers that have failed over the last two years and believes that around 7.2 million homes – will see higher energy bills this winter than last…. • 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. PUBS & RESTAURANTS: Delivery: CGA’s delivery tracker reports that ‘Britain’s top managed restaurant groups achieved year-on-year growth in delivery and takeaway sales of 4% in July.’ CGA says this is ‘a second successive month of growth, following an extended post-COVID fall in sales that saw the Tracker record 18 negative months in a row, as consumers returned to eating out rather than ordering deliveries and takeaways…’ Higher food cost risk: Businesses are demanding clarity from the government about its plans for new Brexit border checks, with ministers refusing to confirm or deny reports earlier this month that the new system will be delayed again…. • 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. Working from home: Some employers have been left with spare space. Rooms are being prepared to be let at Edinburgh city council’s headquarters at Waverley Court after the local authority found that more than 80% of desks are empty due to staff working from home…. Other news: The Drinks Industry Group of Ireland has reported that over 150 pubs in the country have shut down every year since 2019. It says that some 2,000 in total have shut down since 2005, representing some 22.5% of the total. Some 450 have gone out of business since the outbreak of the Covid pandemic… • 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: The Evening Standard reports that Breal Capital has acquired Vinoteca out of administration, saving 150 jobs…. Wetherspoon is set to open a new site at Heathrow Airport called The Star Light on 2 October. The pub will have seating for approximately 140 customers and will create up to 60 full and part-time jobs. CEO John Hutson says ‘we have operated units at Heathrow Airport since 1991 and are proud of our association with one of the world’s largest airports.’ Coffee#1 reports Q4 sales up 117% compared to 2019 levels, opening two new stores in Cheltenham and Portishead during the quarter, bringing the chain to an estate size of 113. Coffee#1 has also continued its expansion into the delivery segment of the coffee market, launching a partnership with UberEats, to add to its existing presence through Just Eat…. Britvic is investing £22.5m in its East London factory in Beckton to create a sixth bottling line, creating 18 new jobs. The expansion is expected to increase production capacity at the site by nearly 30%. This follows the company’s recent £8m investment to improve energy efficiency at the factory. The Advertising Standards Authority has upheld a complaint against a Camden Town Brewery TV advert which found that the advert was appealing to under 18’s through its use of cartoon characters and ‘playful tone’…. The MCA reports that Pret a Manger franchisee and fish & chop shop operator Chesterford Group saw revenue up 13.7% to £27.3m in 2022, with EBITDA falling to £1.2m from £2.8m due to ‘extraordinary’ external pressures… Whitby Distillery’s £1.8m project to renovate two derelict barns on Whitby Abbey Lands on the south-west corner of the Abbey grounds is scheduled to be completed by the end of next year. The award-winning North Yorkshire gin distillery currently has its products stocked in more than 500 outlets across the UK. Majestic has reported a sharp rise in organic wine sales and says the trend is set to continue. It says consumers will engage with “planet-friendly purchases.” German Doner Kebab is to open a new restaurant in Fareham. Greene King is to reopen The Ainsty in York as a Hive Pub after a £500,000 refurbishment. Wilko. The BBC reports ‘the administrators of Wilko said jobs are set to go and stores will close after it failed to find a buyer for the whole business.’ HOTELS & LEISURE TRAVEL: The Global Business Travel Association is forecasting an ‘accelerated rebound’ in corporate travel this week despite business travel volumes remaining significantly below 2019 levels more than 16 months after the end of pandemic restrictions in Europe. Visa forecasts show global business travel spending will surpass the pre-pandemic level of $1.4 trillion in 2024 and hit $1.8 trillion by 2027. Sky reports that Loveholidays, one of the UK’s largest online travel agents (OTAs), is ‘on a journey towards a valuation of close to £1bn as its owners plot a sale that could kick off in the first half of 2024’… Travel Weekly reports that Jet2.com and Jet2CityBreaks ‘has put its “biggest ever” city breaks programme on sale for winter 2024-25, in response to “strong demand”’… • 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. OTHER LEISURE: Exercise bike company Peloton Interactive yesterday reported Q4 (to June) numbers and saw its shares fall by over 20%… • 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. A survey by the Independent Society of Musicians (ISM) has found that Brexit has caused almost half of UK musicians and workers in the music industry to have less work in the EU…. • In its report, the ISM claims Brexit-related restrictions have impaired the viability of making a living as a musician. Mezzo soprano Jennifer Johnston said Brexit was ‘quietly killing our world-class music sector’. FINANCE & MARKETS: Flash PMI numbers for August from S&P yesterday led observers to conclude that the risk of recession in Q3 and Q4 this year was heightened. S&P reports the composite PMI at 47.9 (Jul: 50.8, a 31-month low.) and says that the flash UK Services PMI Business Activity Index was 48.7 (Jul: 51.5 a 7-month low). Manufacturing fell to 42.5 from 45.3, a 39-month low… • 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 Bank of England has warned that high interest rates are putting indebted businesses under the most pressure since 2009. Tory back-benchers, presumably those who backed Liz Truss’s vision of the future, are calling to tax cuts. Sterling weaker on recession fears at $1.2719 and €1.1699. Oil lower at $83.19. UK 10yr gilt yield down 19bps at 4.48% on concerns that recession could at least dissuade the Bank of England from putting rates up much higher. Markets better yesterday & London set to open around 37 points 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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