Langton Capital – 2024-04-09 – RBG, LGRS, Red Engine, TUI, Barclaycard data, demographics & other:
RBG, LGRS, Red Engine, TUI, Barclaycard data, demographics & other:A DAY IN THE LIFE: It was explained to me recently that there are three ages of man as people can be lumped into categories comprising ‘the young’, ‘the middle-aged’ and the group where all you can honestly say is ‘you’re looking well’ suggesting that, if you elicit double-takes when you meet people and are told you’re looking healthy (or the Yorkshire equivalent, ‘not dead yet then’) you maybe have something to worry about. Not that any of us can hold back time, of course. Anyway, bit of a rush this morning and errands to run so, without further time-wasting, 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 CONSUMER SPENDING – BARCLAYCARD DATA – MARCH 2024: Barclays has produced spending data for (the five-weekend and Easter month of) March saying that non-essential spending growth hit an 18-month low in the month. It does report, however, that ‘cinemas and pubs benefit[ed] from blockbuster releases and major sporting events.’ Total March spending was up 1.9% year on year, the same as February. Essential spending was up 2.4% whilst non-essential spend was up by 1.6%. Barclaycard reports that ‘retail spending growth was almost flat at 0.7%, while face-to-face retail (excluding groceries) and clothing saw declines of -2.1% and -1.8% respectively.’ It says that poor weather ‘deterred shoppers from visiting the high street.’ It adds that Met Office figures show the UK experienced 27% more rainfall in March than would normally be expected. Barclaycard reports that ‘after reaching its highest point since November 2021 in February (59%), consumers’ confidence in their ability to spend on non-essential items slipped to 55% in March….’ • 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: Demographic issues: The Resolution Foundation reports rent rises in Britain are expected to continue outpacing wage growth, with forecasts indicating a potential 13% increase in average rents over the next three 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. Costs: UK insurers reported an 18% increase in payouts for motor claims last year, while British drivers faced premium hikes of over 34%, significantly higher than those in the rest of Europe…. • 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 news: The Guardian comments on a report prepared by SIBA that suggests there has been a double-digit growth in production volumes’ across craft brewers but it says that ‘competition is fierce, customers’ budgets are squeezed and costs associated with Covid-19 – and Britain’s sluggish economic recovery from it – are piling up’. COMPANY NEWS: Sky News reports that Revolution Bars ‘is close to finalising an emergency fundraising that would provide a stay of execution as it cobbles together plans that will result in the mass closure of its venues’. Were it to prove to be true, part of that, at least, is good news…. • 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. Loungers has this morning announced that ‘Justin Carter is being promoted from his current role of MD of the Lounge brand to the newly created position of Group MD’. The group reports that ‘the introduction of this new role is aimed at ensuring that Loungers has the optimal senior management structure to deliver continued consistent financial out-performance as the Group continues to grow rapidly….’ Red Engine, the company behind Flight Club Darts and Electric Shuffle bars, has secured a new £60m facility from Santander, HSBC, and Barclays to support its global expansion plans. With venues achieving £67m in sales last year and the total estate standing at 25 venues, Red Engine plans to open eight more sites in 2024, including Flight Club Liverpool, Electric Shuffle Manchester, and locations in New York, Philadelphia, Washington, Sydney, and Melbourne…. • 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. Grind, a London-based coffee brand with 14 sites and a retail arm, has achieved B Corp status, joining a growing number of hospitality businesses committed to ethical practices. Grind’s sustainability efforts include the use of compostable coffee pods, recyclable packaging, and support for ocean cleanup projects through its charity, the Better Coffee Foundation. Aldi has surpassed Asda to become the third-largest supermarket chain in Britain, signalling a continued challenge for Asda, which has been losing market share since the Issa brothers completed their takeover of the supermarket…. HOLIDAYS, HOTELS & LEISURE TRAVEL: Tui Group has affirmed the UK’s status as a ‘core’ market despite its decision to end its dual listing on the London and Frankfurt stock exchanges. While the move to Frankfurt represents another blow to the UK stock market, it is said to reflect a shift in share custody and liquidity… Per The Guardian, the British staycation boom is waning as short-term holiday rentals experience a significant drop in bookings due to the cost of living crisis, poor weather, and market saturation…. Rail passengers faced disruption yesterday as train drivers initiated a fresh phase of strike action, affecting services including the Gatwick Express and Thameslink. On the other hand, planned strike action by London Underground drivers for yesterday and in May has been cancelled. Amadeus has finalised its €320m acquisition of Vision-Box, a Lisbon-based specialist in aviation biometrics and automated border control. Amadeus claimed the acquisition will enhance its offering, enabling a ‘seamless’ traveller journey from booking to airport arrival, inclusive of border control and boarding. OTHER LEISURE: Shares in Entain rose yesterday after reports that the company might attract a take-private bid from on or more private equity house. FINANCE & MARKETS: According to the latest CBI Financial Services Survey, business volumes in the financial services sector rebounded strongly in the first quarter of 2024 following a decline in the previous quarter…. Market forecasts suggest a flat interest rate scenario akin to Table Mountain’s plateau, with rates set to stay higher for longer. US CPI inflation data this Wednesday is expected to increase to +3.4% in March, from +3.2% in February, as a stronger than expected US economy drives prices upward. Analysts predict that the Fed’s data-dependent approach will discourage them from making rate cuts while inflation appears to be rising. Shell has said it is looking at strategic options that could include it leaving London and moving its primary listing to New York. Sterling mixed at $1.2655 and €1.1654. Oil up at $90.54. UK 10yr gilt yield up 2bps at 4.10%. World markets mostly better yesterday. London set to open down around 3pts 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. |
|