JDW, Molson, Campari, Peloton, US restaurant Q1s, licensing & other:

A DAY IN THE LIFE:

I’ve concluded that blackbirds and robins have more in common than just having wings and a beak.

And yes, I’ve been told they’re both members of the thrush family but what I was referring to is the tendency of both species to attack their reflections in a mirror or, in the case of the robin, a window in which, if you really, really try, you might be able to see your own image staring back at you.

Which is what it is but, as both birds tend to poo themselves with fear when they launch themselves into the fight, it can get a bit messy.

The robin, it has to be said, isn’t much of a problem.

But the blackbird, on the other hand, seems to be a bit of a Tardis when it comes to poo production. And, as it tends to sit on the car’s wing-mirror and launch violent attacks thereon, it has a tendency to leave long and voluminous white stripes on the door.

Vertical, of course.

Not a horizontal, Starsky & Hutch effect but, despite the latter being more of a technical challenge for the bird, it wouldn’t really be a whole lot more attractive.

Anyway, have a good weekend. Weather looks great & here’s the news:

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PUBS & RESTAURANTS:

Opening hours:

The government yesterday formally tweaked hours for Thursday 8 May (only), the 80th anniversary of VE Day. The order, which was announced in April, allowed premises in England & Wales that would usually have had to close at 11pm, to remain open until 1am Friday morning.

Licensing laws:

The FT reports that the major review of UK licensing law announced by the government last month and which gave new powers to Sadiq Khan, the mayor of London, is beginning to have some effect…

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COMPANY NEWS:

Pat Val owner Flour Power Group, which owns Patisserie Valerie, has reported level sales at £25.3m for the year to 2 April 2023 but a loss of £3.6m versus a profit of £566k in the prior year.

The MCA reports that iced beverages have helped to drive sales at Black Sheep Coffee. It reports year-on-year growth of 227% for the iced beverages at the end of April 2025.

M&B owned Browns Brasserie & Bar has confirmed its restaurant in central Brighton will close this week after the group failed to extend its lease.

JD Wetherspoon yesterday commented on what it labelled a ‘highly misleading headline about Wetherspoon beer prices in The Sun. The paper reported that chairman Tim Martin was blaming Labour for an imminent 20p price hike across beers in its own units. JDW says its ‘chairman Tim Martin estimated that pint prices in the pub industry generally, as previously indicated by the British Beer and Pub Association, a pub industry organisation, would rise by about 20p….’

The MCA reports that We Do Play plans to open 30 Activate sites over the next two and a half years, following a strong UK debut for the immersive concept at The O2.

Fat Hippo, the Newcastle-based restaurant operator which now operates from 17 sites (13 restaurants and 4 concessions) throughout the UK, has reported numbers for the year to 31 July 2024 to Companies House. Revenue has risen by 12.3% to £19.35m. The group’s GP% has expanded markedly from 29.6% last year to 34.4% in the year under review. EBIDTDA has risen by 97% to £1.90m. Admin expenses are up by 10% to £6.03m and, though interest charges have risen on higher rates, the group reports a PBT of £556k compared with a loss last year of £263k. There were no dividends paid during the year….

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Molson Coors Beverage Company yesterday reported Q1 numbers saying that net sales decreased 11.3% reported and 10.4% in constant currency. It adds that U.S. GAAP income before income taxes decreased 41.1% to $156.3 million and says that underlying (Non-GAAP) income before income taxes decreased 49.5% in constant currency to $131.1 million….

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Papa John’s International in the US has reported Q1 numbers saying that LFL sales in North America ‘were down 3% from a year ago as Domestic Company-owned restaurants were down 5% and North America franchised restaurants were down 2%.’ International LFL sales were up 3% compared with the prior year quarter….

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Krispy Kreme has also reported Q1 numbers. It says that net revenues were $375.2 million, down 1.0% on last year. The company reports a GAAP net loss of $33.4 million and adjusted EBITDA of $24.0 million…

Burger King and Tim Hortons brand owner Restaurant Brands International reports Q1 numbers saying that consolidated system-wide sales grew 2.8% year-over-year with international markets up 8.6% and North America sales less buoyant…

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Campari has reported Q1 numbers saying that sales fell by 4.2% organically to €666m with reported sales up by 0.2%. The company reports EBIT of €136m, down 17.2% organically and 10.2% on a reported basis…

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Texas Roadhouse has reported numbers for the 13 weeks to 1 April saying that revenues rose by 9.6% to $1.448bn with net income up 0.4% at $113.7m . The company reports EPS up to 170c from 169c in the same quarter last year…

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Tata Starbucks, the Indian JV, is reported to be targeting 1,000 stores in the geography by 2028. The company reports ‘given the traffic movement that we were seeing, we have tempered our outlet opening a bit. But overall, we remain the largest coffee operator in the country.’

HOLIDAYS & LEISURE TRAVEL:

Sky News reports that the chair of Severn Trent is to be appointed chair also of Premier Inn owner Whitbread.

An interim report has failed to conclude just what was responsible for the fire that shut down Heathrow Airport in March.

BTN Europe reports tht PE firm Tristan Capital Partners is to acquire budget hotel brand easyHotel in a deal reportedly worth some €200 million.

Air bookings platform Sabre reports a 3% drop in bookings in Q1. The company refers to a ‘broad softness globally’ but adds that it is seeing ‘recent improvements in general market trends.’

The FT reports that ‘Mexico is reaping the benefits of a US travel boycott by Canadians angry at the policies of President Donald Trump, with visitor numbers soaring as airlines add new flight routes into the country….’

Shares in Uber rival Lyft rose by around 7% yesterday in the US as the company beat Q1 estimates. It reported that revenues rose by 14% to $1.45bn with EPS up to 24 cents against estimates of around 19 cents…

OTHER LEISURE:

Peloton Q1 numbers yesterday disappointed the market in the US with the company reporting a loss per share of 12c, around double the market estimate of a 6c loss….

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Aquis-listed Newbury Racecourse has reported full year numbers to end-December saying that revenue rose by 16.3% to £22.04 with PBT up to £1.1m from £0.72m in the prior year….

FINANCE & MARKETS:

The Bank of England’s MPC yesterday cut UK rates by 0.25% to 4.25%. Whilst the cut was widely expected, the vote was five in favour with two members voting to hold rates and two voting to cut them by a larger 0.5%…

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The Bank of England’s May Monetary Policy Report suggests that changes in global trade policies will impact the economy.

The NIESR is forecasting inflation to average 3.3 per cent over the year. It says that ‘persistent wage growth stemming from a historically tight labour market and upward pressures from regulated price increases mean that inflation is likely to return to target more gradually over the next three years…’

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President Donald Trump is now hinting that tariffs on goods from China may fall. He says ‘you can’t get any higher. It’s at 145, so we know it’s coming down.’

The CBI comments on the UK government’s latest trade deal saying ‘the UK Government should be commended for securing a trade deal with India and now the US. A clear message is being sent to the international community: the UK is a fierce advocate of free and fair trade and a reliable partner with whom to do business.’

Sterling mixed yesterday at $1.3234 and €1.1791, Oil higher at $63.20. UK 10 year gilt yield up 8 basis points to 4.54% despite the rate cut. London down but most markets better yesterday and London set to open around 29 points higher as at 6.30am.

RETAIL WITH NICK BUBB:

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