Barclaycard spend data, Tubes, jobs, Pret, JDW, Breakfast Club & other:

A DAY IN THE LIFE:

Worried, reportedly with absolutely no good reason at all, that my legs were going bald, I’ve spent the last two months wearing short trousers in order to cultivate a bit of re-growth.

There’s no visible difference, of course.

Because, they were never bald and, apart from the odd nettle-rash and bramble-scratch, they look pretty much the same as they did back in June but, although the sun’s shining today and it may well do so tomorrow, it could well be time to herald in the long trousers.

Which, I’m prepared to bet, will feel a bit weird.

But not, perhaps, as weird as would attending a corporate results meeting in short trousers in November or December so, with that decision pretty much made, 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:

Consumer spending:

Barclaycard has produced spending data for August saying that ‘consumer card spending grew by just 0.5% year-on-year in August, down from 1.4% in July’ but better than the 0.1% drop seen in June. The August number is markedly lower than CPI which, in July (the latest month for which we have data) stood at 3.8%….

• 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.

Tube strikes:

Downing Street has said it is understandable that Londoners would be ‘fed up’ with tube drivers as strikes, which will extend for much of the rest of the week, caused problems yesterday. The volume of passengers using, or attempting to use, public transport was reportedly down by a fifth yesterday as RMT strikes closed the underground. UKH has said that the strikes this week could cost hospitality in the capital as much as £110m…

• 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.

Jobs market:

HR platform Employment Hero has suggested that UK workers are ‘job hugging’ as they prioritise security over pay-rises due to confidence in the jobs market dropping. Employment Hero says the move comes as ‘employees look to weather the storm’…

Business rates re-set:

Whilst the above is intended to be revenue neutral (with larger premises paying more in rates and ‘High Street’ operators – the smaller ones at least – overall paying less, the MA reports that ‘the hospitality sector is set to pay an additional £75m across 650 properties in a business rates revamp while online businesses “largely escape”’….

• 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.

Cask Ale:

Ahead of cask ale week, which will run from 18-28 September, SIBA has reported that Gen Z beer drinkers could hold the key to the survival of cask ale as they need to provide a new generation that appreciates ‘Britain’s national beer style’…

• 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:

Pret a Manger is to introduce meal deals in an attempt to compete with supermarkets. It has not put a price on the deal but CEO Pano Christou says ‘going forward our priority will be to drive transactions and sustainable growth by offering great value for money for Pret customers…’

• 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 Evening Standard reports the restaurant group formerly known as D&D London will open its first concept in almost five years following a rebrand and overhaul of the business. It adds that ‘Launceston Place in Kensington, one of D&D’s most-loved restaurants and formerly under the charge of chef Ben Murphy, is to reopen after it closed in 2024.’ The group, now known as Evolv, will launch Liverpool St. Chop House & Tavern on September 17, “marking a pivotal moment in the group’s evolution”.

Cornish Bakery reports that it ‘has delivered a record-breaking summer of trading, achieving 24% total sales growth year-on-year and strong like-for-like performance, defying wider trends in high street and hospitality….’

• 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.

Pub operator JD Wetherspoon yesterday announced that it has signed a new franchise agreement with The Papas Group. This will result in 15 new Wetherspoon pubs with the first to open being The Hykeham Manor, located in Gateway Park, Lincoln, on the site of a former Gateway Park Brewers Fayre. It is set to open on 1 October….

The Breakfast Club has reported ‘solid financial growth’ in its most recent results with sales and operating profit both rising, and pre-tax losses narrowing.

The group, which operates 15 sites nationwide under its core brand as well as two pubs in London, says it has emerged from its latest financial year ‘stronger operationally, more stable financially, and more confident strategically’.

The Breakfast Club has reported numbers for the year ended 31 March 2025 to Companies’ House saying that revenues rose by 1.7% to £18.1m. Operating profits have more than doubled to £400k from £155k in the prior year but the group reports a loss before tax of £301k (2024: loss £481k). Accumulated losses since incorporation are now some £8.0m and the company has negative net worth of £4.3m…

• 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.

It’s been reported that Starbucks’ China operations have had non-binding offers from PE firms, including Carlyle, Bain Capital and KKR with valuations of around $5bn. Reuters reports unnamed sources as suggesting that it’s unclear whether there are yet favoured bidde3rs and nor is it clear just how large a stake Starbucks is prepared to sell.

HOLIDAYS & LEISURE TRAVEL:

Terminal 4 at Heathrow reopened last night after an investigation found ‘no trace of any adverse substance.’

YOTEL has announced the appointment of Phil Andreopoulos as Chief Executive Officer. It says his appointment follows the news that YOTEL’s majority shareholder, the Al-Bahar Group acquired an additional 30% stake in the company earlier this year, increasing the Group’s holding in YOTEL to more than 95%.

CoStar reports that Accor’s debut in Las Vegas is a big move for the French hotel giant. It says that Accor, which took over management of the Treasure Island hotel and casino, rebranding it as Treasure Island-TI Las Vegas Hotel & Casino, in July, has said that adding Las Vegas to its roster allows the brand to operate in “one of the world’s most dynamic hospitality markets for both leisure travel and convention visitors.”

FINANCE & MARKETS:

A number of mortgage providers have raised their rates in recent days as the belief that the Bank of England may make no further interest rate cuts this year has taken hold.

China’s export growth slowed in August to 4.4% year on year.

Sterling $1.3567 and €1.1529. Oil $66.48. UK 10 year gilt yield 4.61%. Global markets mostly better yesterday but London set to open down around 17 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.