Langton Capital – 2023-08-25 – Subway, Hall & Woodhouse, Pret, price v volume, confidence, debt etc.:
Subway, Hall & Woodhouse, Pret, price v volume, confidence, debt etc.:A DAY IN THE LIFE: Well, the weather looks set to break again as Langton is away next week, the last and shortest week of the summer holidays. But we’ll be back on Monday 4 September at which time news-flow should pick up a little. On to what little of it there currently is: 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 PRICE vs VOLUME: • 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: The consumer: GfK has reported that UK Consumer Confidence improved by five points in August. It says ‘consumers show renewed resilience as all measures reverse the drop seen in July….’ • 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. Re consumer debt, Bank of England numbers show that more than 3m UK households owe £2.7 billion on ‘buy now, pay later’ (BNPL) borrowing reports the Daily Mail. It says the numbers ‘suggest users are more likely to be financially vulnerable – likely to raise concerns of a ticking time bomb for borrowers.’ It adds ‘experts warned some shoppers were using BNPL without understanding the burden they were taking on.’ Retail sales: The latest quarterly CBI Distributive Trades Survey shows that retail sales volumes fell in the year to August for a fourth consecutive month. Volumes fell according to a weighted balance of retailers at -44% of respondents from -25% in the year to July. Selling price growth in the retail sector eased slightly to +73% from +77% in May. Other news: Michael Kill, CEO of the Nighttime Industries Association, says of the upcoming rail strikes that ‘industrial action has far-reaching consequences that extend beyond mere inconvenience….’ • 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: Subway has agreed a deal with US-based firm Roark Capital, which has brands Baskin-Robbins and Dunkin’ on its books…. Pret has doubled its Club Pret discount from 10% to 20% ahead of its international launch…. Hall & Woodhouse Ltd has reported its FY numbers for the period ended 28 January 2023 to Companies House. Turnover increased year-on-year (YoY) with a recovery in its underlying profit as pandemic-related disruption reduced…. • 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 Deutsche Bank analysis note suggests Campari could merge with or takeover another drinks business to gain footing in the US. The note suggests a takeover or merger with one of Edrington Group, Rémy Cointreau or William Grant would be the best move. Banana Tree is to open a new site in Birmingham’s Bullring next week. Slim Chickens has opened a new site in Bury St Edmunds in a former Carluccio’s site. Wilko. The Canadian owner of HMV, Doug Putman, is reported to have shown interest in keeping at least some of Wilko’s stores open. The BBC reports ‘even if Mr Putman’s last-minute offer is successful, it is understood that it would not be expected to prevent the closure of the majority of Wilko’s stores and the closure of its depots and head offices.’ HOTELS & LEISURE TRAVEL: Cirium reports that more than 3,130 flights are scheduled to take off from UK airports today (Friday) – the highest number on a single day since October 2019 – as Brits plan their August bank holiday getaways. Heathrow will see the largest number of departures, followed by Gatwick and Manchester while easyJet is projected to be the airline operating most flights this week. The Unite union has said that the threat of strike action by ground handlers at Gatwick Airport over the bank holiday weekend has ended. The union said it had secured improved pay offers for its members, bringing an end to the dispute. Switch Hospitality Management will manage Aparthotel Birmingham which is due to open in Birmingham’s Snow Hill area this autumn. The new property will offer 161 studios, one-bedroom and two-bedroom apartments, and suites across nine floors. Corporate Travel Management (CTM) reports revenue up 70% to AU$660.1m and total transaction value (TTV) up 77% in the last year as the business rebounds from the pandemic. Revenue in Europe grew 70 per cent to AU$143m and EBITDA was up 125% to AU$84.1m, boosted by ‘major new client and contract wins, with high CTM technology uptake over a significantly larger scale’. OTHER LEISURE: PureGym reports revenue up almost a fifth, reaching £272m as the gym company opened one new site a week in the quarter….. FINANCE & MARKETS: See comment on GfK’s consumer survey in Pubs & Restaurants above. Sky News reports that the proposed trade deal with India could be delayed as “tricky” issues have not yet been resolved almost a year after a deadline announced by Boris Johnson. Sterling down at $1.2563 and €1.1655. Oil up at $83.64. UK 10yr gilt yield down another 5bps at 4.43%. World markets weaker yesterday and London set to open down around 15 points 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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