CPI, labour costs, books, Nichols, Pepsi, SBUX, Joe & the Juice & other:

PREMIUM EMAIL – PLEASE DO NOT FORWARD:

A DAY IN THE LIFE:

Daughter rang up Sunday evening, she’s at Newcastle Uni, digs about 100 yards from St James’s, and she couldn’t make herself heard above the din drifting over from around the ground.

This was after the match, of course, which was played at Wembley and which, for those not close enough to hear the singing, was won by Newcastle, 2-1.

Heaven knows what the office attendance stats on Tyneside looked like yesterday morning as most of the would-be workers are probably still, as we write, dancing in the street.

Anyway, congrats to The Toon but that’s enough about NE1, 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

PUBS & RESTAURANTS:

Labour costs

Labour rates are set by the market which, at the micro level, is impacted by the actions of competitor firms and firms that may be considered similar in the minds of employees. Wages paid for retail and leisure jobs may have a bearing on each other. With that in mind, noteworthy that the UK’s biggest retailer, Tesco, is set to raise store worker wages by 5.2% over the next six months. It is, however, to remove the 10% premium that it currently pays for working on a Sunday….

• 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.

Employment intentions:

A Morning Advertiser survey of pub leaders has found that upcoming NIC and NLW changes have torpedoed hiring intentions…

Business attitudes:

BCG’s Centre for Growth has undertaken a survey of 1,500 bosses in order to compile its “State of UK Business” report. It says confidence is at a “crossroads” with some 57% of respondents believing that a recession is likely this year….

• 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:

Red Tape. In response to Government comments on cutting impediments to business, UKH says ‘government efforts to cut red tape should be targeted at businesses most over-taxed and over-regulated, like hospitality.’ It says ‘the Chancellor has announced an action plan to cut the administrative cost of regulation on business, as well as meeting regulators to put the plan into action….’

• 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.

ResDiary reports that financial issues dominate when it comes to answering the question as to ‘what makes a good restaurant promotion?’. Providing value is seen as the largest singe determinant in a promotion’s success.

BOOK REVIEW: Pt I.

Mistakes Were Made (But Not By Me) by Carol Tavris & Elliott Aronson – 2007:

People who do not learn from their mistakes are destined to repeat them. So it says ahd here the authors look into why we may be programmed to airbrush our mistakes and, whilst that may protect our psyche, it does mean that we can be slow to lear. Mistakes may be undeniable but, putting them in the passive voice – or better still, blaming them on somebody else – seems to be the way to go….

• 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:

Nichols reports the death of its CFO, Richard Newman, after ‘facing cancer with stoicism and grace.’ The company expresses profound sympathy and says ‘David Taylor will continue in his role as non-board finance director to ensure continuity and Prism Cosec will provide support in the role of Company Secretary while the Board considers permanent succession arrangements.’

PepsiCo has announced the purchase of ‘poppi, a fast-growing prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion.’ It adds that ‘the transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction….’

• 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.

Events organiser Broadwick Group has acquired Camm & Hooper, further expanding its portfolio of venues, event services, and live entertainment….

• 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.

Currently listed wine producer Gusbourne has announced that the last day of dealings in the shares is today, 18 March 2025. Cancellation becomes effective at 7:00 a.m. on 19 March 2025….

Starbucks has told a meeting with shareholders that ‘we’re working hard to ensure our coffeehouses have the right vibe.’ CEO Brian Niccol says ‘we want to invite customers in, showcase our great coffee, provide a comfortable place to stay, and make them feel like their visit was time well spent.’

Gong Cha, which has the ambition to operate 10,000 bubble tea outlets globally by 2032, has signed a franchise deal in the UK to open 225 stores.

Joe & The Juice UK Ltd, the ‘retail chain of juice bars offering fresh, made-to-order fruit and vegetable juices, smoothies, shots, unique sandwiches and salads, coffee, and tea’ and which is a subsidiary of Danish parent company Joe & The Juice Holding A/S, has reported (rather tardily) results for the year to end-December 2023 to Companies House.

Trading – numbers: The company reports revenues up by 68.1% to £77.0m with gross profit up by 79.5% at £61.9m. The GP% rose from 75.4% to 80.5%. Admin costs are up by 47.8% (less than the rise in revenues) and operating profits swung from a loss in FY22 of £3.7m to an operating profit of £5.5m in FY23. Interest costs are largely made up of interest on intercompany loans. The charge has fallen on lower balances outstanding. Joe & The Juice has booked some £543k of foreign exchange gains as ‘interest receivable and similar income’. PBT has swung from a loss in FY22 of £5.1m to a profit in FY23 of £5.0m…..

• 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.

Joe & The Juice has separately appointed Jon James as MD in the UK.

Better-burger concept Patty & Bun on 14 March filed a notice of intention to appoint an administrator.

A driver who scalded himself after buying tea in a Starbucks drive-through in California, has been awarded $50m in a jury trial…

Shepherd Neame has announced the launch of its interactive investor hub. The hub is ‘targeted at both existing and prospective shareholders.’ It will feature regulatory announcements, reports & presentations as well as educational material and corporate research…

HOLIDAYS & LEISURE TRAVEL:

TTG reports that the EU has once again delayed the introduction of its Esta-style visa waiver. It quotes industry sources as saying that the delay will create further confusion in the minds of UK travellers….

• 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.

Liverpool hotels and accommodation providers will vote later in March on whether or not to introduce a £2 a night tourist levy.

FINANCE & MARKETS:

The OECD has cut its growth estimates for a number of countries including the UK. IT says the UK should grow by 1.4% this year, down on its earlier estimate of 1.7%. The OECD blames US tariffs for some of its downgrades.

The CBI is ‘urging the government to use the Spending Review in June as a ‘catalytic moment for hardwiring the Growth Mission into the heart of Whitehall’.

Savills comments on the UK housing market saying ‘the rise in first-time buyers reflects the overwhelming desire of Britons to get a foot on the housing ladder.’

Sterling up at $1.2979 and €1.1895. Oil higher at $71.41. UK 10 year gilt yield down 2 basis points at 4.65%. World markets better yesterday & London set to open up around 29 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.