Gregg’s, SSPG, BetMGM, Just Eat, trading, prices, jobs & other:

A DAY IN THE LIFE:

After our sit-on mower broke down yesterday, I dumped it back in the garage and ignored it for a few hours hoping that it would mend itself.

It didn’t, of course.

So I resigned myself to calling out the dealers to tow the thing away and fix it but then, not looking forward to being patronised by somebody with grease on his overalls, on Sunday evening of all times, I decided that it might be a good idea to crawl around in the dust underneath the thing and see if I could find out what the problem was.

And, to my intense surprise, nay, shock, I came, I saw and, after a brief struggle I conquered it and got the thing working.

And, after doing a few victory laps around the garden, I decided that I was that person, the middle-class man who could call his builder Daz, who could pretend to take three sugars in his tea, who couldn’t find Radio Four on the dial if his life depended on it and who actually, for once, had really, really done something.

It didn’t last, of course because, though I’ve never been one for avocado and am too mean to frequent Waitrose, I do quite like the odd cup of Earl Grey. On to the news:

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PUBS & RESTAURANTS:

Trading:

The Oxford Partnership’s Market Watch data reports that ‘the UK On Trade enjoyed a significant sales surge over the recent weekend, fuelled by a packed schedule of major sporting events. From Friday through Sunday, venues across the country recorded notable uplifts in footfall and drink sales, culminating in a 14.3% increase in pint sales on Sunday alone compared to the previous weekend….’

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Foodservice Prices:

The latest CGA Prestige Foodservice Price Index reveals that the UK foodservice sector saw a significant resurgence of inflationary pressures in June 2025. It says that ‘all 10 categories of the Index recorded month-on-month increases, and nine experienced year-on-year inflation amid widespread uplifts in costs. The total basket saw a strong month-on-month increase of 2.0%….’

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Hospitality jobs:

UKH comments on the drop in summer jobs which is likely due, in part at least, to changes in NIC charges. It says that ‘job postings for temporary work in hospitality this summer are down 25% year-on-year, threatening student jobs this year as schools and universities break for the summer.’ It adds that ‘hospitality and tourism are sectors that provide hundreds of thousands of people with casual and temporary work during the busy summer months. This is particularly beneficial for students returning from university or college, and teenagers looking for their first job….’

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EPR came into force on 1 April in a bid to shift the cost of managing waste from the taxpayer and rate payer onto producers. Pubs, which largely already pay private contractors to take away their waste, will have to pay higher prices for products due to fees charged to suppliers.

Licensing changes:

UKH has added its voice to those supporting likely changes to licensing laws aimed at cutting red tape for cafes, bars, music venues and those seeking to provide outdoor dining. UKH says ‘we strongly welcome these proposals to cut red tape and make it easier to open and operate hospitality venues, create jobs and grow the economy….’

Other news:

Promotions & discounting: Meaningful Vision reports that, with costs rising and the consumer reluctant to spend, ‘promotional strategies have become an indispensable tool for restaurants and fast-food brands looking to entice customers.’ It says ‘promotional activity has seen a significant surge in recent times. Since 2024, UK restaurants have increased promotional offers by 25% , a growth trajectory that has continued into 2025….’

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Climate change & food prices: The Guardian quotes the Autonomy Institute thinktank as saying that Britain is at risk of a worsening “climateflation” crisis amid the fallout from increasingly extreme weather that could drive up food prices by more than a third by 2050….

Footfall: The MCA quotes Lumina Intelligence data suggesting that UK eating-out participation fell slightly in Q2 2025. It adds that the ‘higher frequency and spend per visit suggest consumers are choosing fewer, more purposeful occasions, with quality and value remaining the dominant decision drivers.’

GREGG’S H1 NUMBERS:

Gregg’s announces H1 sales rose by 7% to £1.03bn. Operating profit is down by 7.0% at ££70.4m and PBT is down by 14.3% at £63.5m. Gregg’s reports that company LFL sales were up by 2.6% and franchised sales were up by 4.8% on a LFL basis. The company reports EPS some 15.8% lower and the dividend has been held unchanged at 19p.

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SSP GROUP – Q3 TRADING UPDATE:

SSP reports that ‘group sales in Q3 were up 6% year-on- year, on a constant currency basis, with like-for-like sales growth of 3%, net contract gains of 4% and a 1% contribution from acquisitions. It says that Group sales were reduced by 2% due to the ‘staged exit of our German Motorway Services business and the deconsolidation of our AAHL joint venture in India.’ SSP reports that LFL ‘sales growth in the first six weeks of the quarter was 5%, as reported in our Interim Results on 20 May, including a seasonal benefit from the timing of Easter.’ It adds that LFL ‘sales growth in the last seven weeks of the quarter moderated to 1%, reflecting a softening of like-for-like sales in the UK and Asia PAC & EEME.’ Re current Q4 trading, SSP says LFL ‘sales growth improved to c.3% in the first three weeks of the fourth quarter.’

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COMPANY NEWS:

Prosus, which is bidding for Just Eat Takeaway on an agreed basis, has extended its Acceptance Period until 1 October 2025. The bidder reports that ‘the Acceptance Period has been extended to accommodate the ongoing regulatory review by the European Commission under the EU Merger Regulation….’

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Heineken shares fell 5% yesterday on the back of the company reporting H1 numbers. Regarding US tariffs, the company reported that it is still considering moving some of its brewing operations to America in order to avoid the levy….

Tasty yesterday reported in response to a Sky News item that it ‘confirms that it has held advanced discussions with David Page [former chairman of Fulham Shore] and Nicholas Wong, former Finance Director of The Fulham Shore plc and that it is evaluating funding options with a view to investing in future strategic opportunities for the Company, which may involve an equity placing.’ It says it will make further announcements as and when appropriate….’

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Costa Coffee: Costa owner Coca Cola has made a number of comments on the company that it bought for $4.9bn in early 2019. CEO James Quincey says Coca Cola is ‘reflecting’ on its acquisition saying that Costa ‘is not where we wanted it to be…’

Agent Drake & Co reports that Punch Pubs has purchased The Mavericks in Stourbridge.

Moody’s has commented on the purchase by Compass Group PLC of Vincent Midco BV, a Netherlands premium catering and hospitality services company, for an enterprise value of around €1.5 billion, saying that this will lead to an increase in leverage that should rapidly be worked down….

HOLIDAYS & LEISURE TRAVEL:

The Times reports ‘it is only a matter of time before Whitbread changes its name to Premier Inn.’ It says the brand has ‘gradually been elbowing other activities — brewing, coffee shops, pubs — out of the nest. It has reached the point where food and beverage revenues and profits are no longer broken out in the annual report’s segmental analysis.’

Istanbul Airport reports that some 272,132 passengers travelled through the airport on Sunday (27 July). This establishes a new European record and moves it ahead of the 268,000 travellers at Heathrow on 30 June 2024.

State-owned East Coast London, Yorkshire, Scotland rail operator LNER has reported that revenue rose to over £1bn in its latest financial year. LNER, which is based in York, says ‘the first half of the year was overshadowed by the continued uncertainty caused by strike action relating to the industrial disputes with trade unions.’ It adds that it was ‘pleased to see a deal reached between the rail industry and the ASLEF union.’

OTHER LEISURE:

The Financial Times reports ‘Chancellor Rachel Reeves is under pressure to raise taxes on the UK’s £15bn gambling industry, as the Treasury moves to streamline the levies on bookmakers to reflect the “exponential” growth in online betting….’

BetMGM has updated on Q2 and H1 trading saying that it has seen ‘stronger than expected 2Q and 1H 2025 from successful strategic execution.’ It says this supports an increased FY25 outlook. The company reports that 2Q Net Revenue up 36% YoY and EBITDA of $86 million (up $78 million YoY)…

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Scottish TV company STV Group has cut estimates for sales and profits this year saying that “deteriorating” economic conditions and a squeeze advertising were holding it back.

The Guardian reports that ‘gambling lobbyists are staging a summer charm offensive designed to stop ministers from raising taxes on the sector.’ It adds that ‘the Treasury is considering whether to simplify the various rates of duty applied to gambling products, a measure that the £11.5bn-a-year sector fears would increase its overall tax bill.’

FINANCE & MARKETS:

The US / EU trade deal is being reported as something of a victory for US president Donald Trump. US VP JD Vance has posted ‘the entire European press is singing the president’s praises right now, amazed at the deal he negotiated on behalf of Americans.’

Sterling mixed at $1.3348 and €1.1522. Oil higher at $69.96. UK 10 year gilt yield up 2 basis points at 4.65%. World markets lower yesterday but London set to open around 23 points higher as at 6.30am.

RETAIL WITH NICK BUBB:

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