Food price inflation, breweries, packaging, Caprice, Flat Iron & other:

A DAY IN THE LIFE:

After weeks of sunshine, a glance out of the window, where it’s clearly raining, suggests that it’s Half Term and the indoor attractions might well have a good run of it.

Because bowling, cinemas and the like, although they’re buffeted by other forces, of course, do better in wet weather than do the pubs’ beer gardens.

And iced-cream sales but anyway, the kids’ holiday means that there are few scheduled releases this week.

So plenty of time to read a book and, with that in mind, thanks go out to subscribers who purchased Big Daddy, which was published in Kindle format on Friday.

But despair not, there’s still time to catch up on the action as the book is still available:

• Here on Kindle

• And here in hardback or paperback

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:

Food price inflation:

The British Retail Consortium reports that UK food inflation rose for the fourth consecutive month in May to hit a one year high at 2.8%, up from 2.6% in the year to April. The BRC says that this has been driven by fresh food price rises. It adds that ‘fresh foods were the main driver, and red meat eaters may have noticed their steak got a little more expensive as wholesale beef prices increased.’ It says that non-food inflation remained in negative territory at minus 1.5% in the year.

WFH:

British Land, which owns the Broadgate office complex in the City of London, on Friday said that demand was continuing to pick up for London offices and that this was beginning to ‘trickle down’ to older buildings as tenants sought to source cheaper rents. This bodes well for the return to work and, though WFH is far from dead, there is a degree of balance coming into the market…

• 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.

Breweries:

The craft brewery market has been subject to consolidation for some time with the number of breweries reducing even when the number of brands remains the same. The Times reports that ‘more than 40 breweries have become insolvent over the past year, as independent craft beer producers struggle against rising costs and weaker consumer spending….’

• 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.

Packaging costs, extended responsibility:

Trade bodies UKHospitality, the British Beer and Pub Association, British Institute of Innkeeping, Campaign for Real Ale, Society of Independent Brewers, Wine & Spirit Trade Association, Independent Family Brewers of Britain, Federation of Wholesale Distributors, Cider UK and British Glass have written to the Prime Minister and Chancellor to highlight the economic impact of Extended Producer Responsibility on investment and growth in the UK….

• 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.

Disposable incomes:

Energy bills are set to fall, leading some observers to suggest that households should shop around for cheaper energy deals to lock in prices.

Other news:

Members of the UK Spirits Alliance, which represents 280 large and small drinks producers and bars, say higher taxes mean increasing exports is a ‘pipe dream’ reports The Daily Mail. The recent trade deal with India will see tariffs on UK whisky and gin fall from 150 per cent to 75 per cent.

Late night: The Guardian becomes the latest of several observers to look at the late night market. It speaks with M&B’s Phil Urban and says ‘a social media and a home delivery boom has shifted younger people’s attitude to going out and risks shrinking the late night entertainment market….’

COMPANY NEWS:

CEO of Pizza Express Paula MacKenzie, where the brand turns 60 this year, has told The Times that the company will continue with its revitalising the brand. It is focusing on key areas including refurbishing about three quarters of the chain’s 358 restaurants, creating new formats and capitalising on customers’ loyalty, she says. Ms MacKenzie adds ‘what we are trying to show is that there is a contemporary version of Pizza Express and not just the one that people might remember from the past….’

Sky News reports that McWin Capital Partners, which backs the Gail’s bakery chain, is teaming up with TriSpan and the partners are ‘in advanced talks to acquire Flat Iron, one of Britain’s fastest-growing steak restaurant chains.’ The two private equity houses are reported to be in exclusive discussions, with a deal possible in approximately a month’s time….

• 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.

Chef Tom Kerridge reports that he has decided to close his Butcher’s Tap & Grill in Chelsea in London. The final service will be on Sunday 1 June. A spokesperson says ‘the team has worked hard to make the concept work, but nothing is a given in the challenging climate hospitality businesses now face. Increasing costs demand a match in revenue and turnover that has not materialised at the site, providing an opportunity to regroup, rethink and rebuild.’

The Times reports that KFC is placing a big bet on its UK business where it is pledging to invest almost £1.5 billion over the next five years….

Caprice Holdings has reported rather aged results for the year to end-December 2023 to Companies’ House saying that revenue came in at £97.1m, up from £74.4m in 2022. The group reports a pre-tax loss of £5.9m compared with a £1.2m profit the previous 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.

McDonald’s in the US has announced that it will close its CosMc’s sites from late June this year. The CosMc’s concept was launched in late 2023. It has only five locations, one just outside of Chicago and four in Texas.

Majestic Wine has told the MCA’s Hostech conference that its acquisition of nine-strong wine bar Vagabond last year offers both parties the opportunity to strengthen their businesses through data.

HOLIDAYS & LEISURE TRAVEL:

Whitbread has this morning announced that Christine Hodgson has been appointed as Chair with effect from 1 September 2025, replacing Adam Crozier who will step down as Chair and retire from the Board on the same date. The company reports that ‘Christine, who is also Chair of Severn Trent PLC, brings a wealth of experience, having held senior roles across the technology and consumer-facing sectors, working with multiple high-growth international companies….’

• 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.

The Guardian reports that holidaymakers in countries hit the hardest by Donald Trump’s trade tariffs are taking the US off their list for trips abroad. It quotes Trivago as saying that it has seen double-digit percentage declines in bookings to the US from travellers based in Japan, Canada and Mexico. The latter two countries were the first on Trump’s tariff hitlist when he announced tariffs of 25% on 1 February.

The Times reports that Parkdean Resorts is planning to raise £250 million from investors as it seeks to capitalise on the UK staycation boom. Parkdean has 66 freehold venues in the UK running the length of the country. It is reported to have hired bankers from Rothschild to advise on the fundraising, which is set to get under way from this week….

OTHER LEISURE:

Cinemas, both in the US and this side of the Atlantic, are looking to Disney’s Lilo and Stitch and the latest instalment of Paramount’s Mission: Impossible franchise to provide the industry with a boost over the summer.

Trump Media. The Financial Times reports that the Trump family media company, Trump Media & Technology Group (TMTG), which owns Truth Social, ‘plans to raise $3bn to buy cryptocurrencies such as bitcoin, in a bet on the kind of digital assets that have been championed by the US president’s administration’. It says the plan is to raise $2bn in new equity and a further $1bn via a convertible bond…

• 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.

FINANCE & MARKETS:

Hard to keep up but President Trump has most recently delayed his only slightly less recently introduced 50% tariff on EU products until 9 July after having a ‘very nice call’ with the bloc’s Ursula von der Leyen.

Sterling up (since Friday) at $1.3553 and €1.1918. Oil higher at $64.43. UK 10 year gilt yield down 7 basis points at 4.68%. World markets a shade lower last seen but London set to open around 5 points higher 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.