Trading, economy, inflation, costs, Dr Pepper, Mixue, Carl’s Jnr & other:

A DAY IN THE LIFE:

I’d say that the internet, or the World Wide Web to be slightly more precise, is where websites go to die.

Only they don’t, really, do they?

I mean a trip around the North East, which involved sampling the delights of a number of pubs, usually for food, threw up plenty of zombie websites, sites that wouldn’t die for pubs that already had.

Or had changed owners, stopped doing food or whatever and we had stale, Covid-19 warnings a-plenty. And Christmas specials and, in one case, a well-laid out 2019 Christmas Menu with no accompanying warning that the pub itself was now a house.

Which is what it is, I suppose.

And a glance at the Langton Capital website will probably prove that hypocrisy is alive and well and living in our house. On to the news:

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PUBS & RESTAURANTS:

Trading:

CGA has updated on LFL drink sales across UK managed house chains for the weeks to 15 Feb and 22 Feb. It reports that LFL sales were down by 11% in the first week covered (put down to a poor Valentine’s Day, although see below) and up by 2% in the week to 22 Feb…

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Elsewhere, Meaningful Vision has reported that trade in certain restaurant segments remains buoyant. It says some of ‘the trade has got off to a flying start, with the UK’s chicken restaurant scene sizzling. However, the industry remains apprehensive about upcoming budget changes….’

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Economy:

The CBI has produced its latest Growth Indicator suggesting that ‘private sector firms expect another fall in activity over the next three months (weighted balance of minus 17%). It does concede, however, that ‘expectations are slightly less negative compared to the two months prior…’

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Inflation

Deputy governor at the Bank of England Sir Dave Ramsden has cautioned that inflation remains a threat. He says ‘I no longer think that risks to hitting the 2% inflation target sustainably in the medium term are to the downside….’

Responses to looming NIC rises:

ASDA is reportedly set to axe bonuses. Part may be due to the retailer turning in another year of decline and part may be down to the company husbanding cash (at the expense of its workers) ahead of NIC increases…

Other news:

Disposable income takes another hit. Regulated rail fares are to rise in England and Wales by 4.6%. In addition, the price of most railcards has risen by £5….

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Re pavement licences, which could be revoked at the end of this month….

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The government has categorically denied as false reports that sales of beer by the pint could be banned in pubs.

See comments on leisure sector in The Times by Whitbread CEO Dominic Paul under Holidays & Leisure Travel below.

COMPANY NEWS:

Keurig Dr Pepper has reported a negative Q4 but says that sales were up by 3.6% in the 12 months ended 31 December 2024 to reach $15.3bn. Coffee sales were down by 2.6% for the year to $4bn…

Restaurant Online reports that Boparan Restaurant Group is aiming to open at least 100 sites across the UK under Californian burger brand Carl’s Jr. in the next four years.

The Restaurant Group has opened its largest-ever concession sit at Luton Airport. The Sanfords American Diner & Loft Bar comprises some 12,810 sq ft.

Mixue, the Chinese bubble tea giant that listed its shares on the Hong Kong market earlier today, saw them go to a 40 per cent premium on their debut. The company, in terms of stores alone, is larger than Starbucks. It has some 45,000 units, 99 per cent of which are franchised. The company sells bubble tea for less than £1. Mixue suggests that the Chinese market for freshly-made non-alcoholic drinks is worth around $71bn.

Experiential leisure offer Clays, the British experiential clay shooting bar brand, has announced that it is to expand into the US. The company intends to roll out its offer to some 15 US cities starting this year…

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The MCA reports that ‘Heartwood Collection has refocused its growth strategy and is zeroing in on larger sites with rooms, rather than standalone pubs.’

HOLIDAYS & LEISURE TRAVEL:

CEO of Whitbread Dominic Paul writes in The Times that leisure and hospitality ‘can be at the forefront of the government’s push for growth, but higher tax burdens and punitive employment law will hold us back…’

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IATA has reported that global airline passenger demand rose by 10% in January this year versus the same month in 2024. International demand was up 12.4% with capacity up 8.7%. Load factor consequently rose by 2.7 percentage points to 82.6%. Domestic demand rose by 6.1% with capacity up 4.5%….

Spanish hotel company Melia has reported REVPAR up 11% in calendar 2024 vs 2023. It reports a 25% increase in net profit to €162 million.

OTHER LEISURE:

The UK’s Information Commissioner’s Office is to launch a ‘major investigation’ into TikTok’s use of children’s personal information. It will look at whether TikTok’s data collection practices could lead to children experiencing harms…

As a result of changing times, competition and new technology, Microsoft has announced that it will be shutting down Skype in May this year.

FINANCE & MARKETS:

Sterling mixed at $1.2603 and €1.2107. Oil lower at $72.99. UK 10 year gilt yield 4.48%. World markets better on Friday and London set to open around 55 points to the good as at 6.30am.

RETAIL WITH NICK BUBB:

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