Gregg’s, Marston’s, Revel Collective, food prices, labour issues & other:

A DAY IN THE LIFE:

As the patch of scrub that we optimistically call a garden is infested with bramble, dog rose, hawthorn, wild gooseberry bushes and holly trees, I question the reasoning that led us to get a dog with a coat like Velcro.

Because, when she comes in festooned with thorny twigs and those spiky seeds, they might be teasel, it’s only a matter of time before the muck ends up spread all over the house and not wearing anything on your feet in a situation like that can be somewhat hazardous.

And, even if she doesn’t shed that half a rose bush stuck to her legs, she’s bound to lay on it and yowl all the way through the final episode of whatever it is you’re watching so where are all those dogs with coats like Teflon when you need them?

They’d go out clean and come back in cleaner. Nice.

On to the news:

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PUBS & RESTAURANTS:

Trading:

Hospitality Data Insights reports that UK hospitality sales rose by 1.7% year-on-year in the 12 weeks ended 28 January 2025, somewhat below the rate of general inflation. It reports that sales in the first four weeks of 2024, which were severely weather-affected, were down 0.3% year-on-year…

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Confidence:

Again, there are a number of measures with some suggesting a levelling off in what had been declining confidence. A City AM Freshwater Strategy poll, however, has found that ‘public confidence in the UK economy has taken another hit…’

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Day slots:

Meaningful Vision reports that ‘footfall traffic dynamics in the UK’s foodservice industry are shifting significantly, with a clear trend favouring morning visits over evening traffic….’

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Labour issues:

The access to and cost of labour are of critical importance in determining hospitality margins and profitability. NIC and NLW changes are well known but moves to ban or strictly limit the use of zero-hours contracts could also have a major impact on the industry…

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Shop prices:

The BRC reports that food price inflation is hitting five-month highs of 2.1 per cent in the year to February, up from 1.6 per cent in January….

Other news:

Extended Producer Responsibility for Packaging is set to impact sales from 1 April with drinks trade associations urging the government to address “significant” issues…

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GREGG’S FULL YEAR NUMBERS:

Headline figures: Gregg’s reports sales up 11.3% at £2.014bn. Underlying PBT is £189.8m and underlying diluted EPS is up by 11.1% to 137.5p. The dividend is up 11.3% at 69.0p. The group reports cash of £125.3m at the year end. Gregg’s reports that ‘evening remains fastest growing daypart; 9.0% of company-managed shop sales in 2024 (2023: 8.5%).’

Current trading: Gregg’s reports that ‘like-for-like sales in company-managed shops increased by 1.7% year-on-year in the first nine weeks of 2025.’ It says that ‘challenging weather conditions in January [was] followed by improved trading in February.’

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COMPANY NEWS:

Marston’s PLC has announced that Hayleigh Lupino, Chief Financial Officer, has informed the Board of her decision to leave the business to pursue a new opportunity outside of the Group. The company reports that Hayleigh ‘will remain with Marston’s as CFO and an Executive Director for the remainder of the financial year until October 2025 to ensure a smooth transition while her successor is appointed….’

The Revel Collective (was Revolution Bars Group) has reported H1 numbers with sales of £64.2m against H1 sales last year of £82.3m. Adjusted EBITDA is £6.1m against £8.9m and the PBT, after exceptional credits relating to the group’s lease structure, was £30.1m against a profit last year of £3.1m. The group reports that ‘festive trading was robust, and Peach Pubs enjoyed a strong FY25 H1’. It adds that ‘sales in the bar brands were challenged, with the recovery plan running several months behind our initial expectations….’

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The Monster Beverage Corporation has reported net sales up 4.7% to $1.81bn in Q4 (up 7.8% at constant currency rates). The company says net sales from its Monster Energy Drinks division increased 4.5% to $1.67bn but alcoholic drink sales fell, leading the group to make fresh impairment charges ‘due to financial performance, which is being addressed…’

The Board of Chapel Down has announced the appointment of Lourens Mouton as Chief Financial Officer. Mr Mouton was Group Finance Director at Fevertree Drinks plc and more recently as CFO and Board Director at Typhoo Tea Ltd.

HOLIDAYS & LEISURE TRAVEL:

American Express Global Business Travel has reported that total transactions from global multinational companies increased 8 per cent year-over-year in 2024. It says business from SMEs was up a more modest 2 per cent…

OTHER LEISURE:

Merlin is to open a PEPPA PIG Theme Park in Dallas Fort Worth.

Proper Music Group has seen some of its assets sold out of administration to Dutch distributor and vinyl producer Artone. The company entered administration on 27 February after facing financial difficulties associated with the recent bankruptcy of its Swiss parent, Proper Group AG.

Total Fitness has reported FY24 revenues up 15 per cent to £46.1 million. Total visits to the group’s clubs rose by 19 per cent in the year….

FINANCE & MARKETS:

Eurozone inflation fell to 2.4 per cent in the year to February, slightly higher than the 2.3 per cent said to have been expected by analysts.

S&P has reported its UK manufacturing PMI saying that it hit a 14-month low of 46.9 in February…

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Sterling higher at $1.2692 and €1.2115. Oil lower at $71.09. UK 10 year gilt yield up 9 basis points at 4.57%. World markets mixed but heading lower yesterday and London set to open around 47 points lower as at 6.30am.

RETAIL WITH NICK BUBB:

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