Mission Mars, Gaucho, Wendy’s UK, confidence, incomes, tipping & other:

A DAY IN THE LIFE:

I’m beginning to think I should have been a management consultant.

Because, whilst I’ve never taken naturally to spin and I know that their main line of business – borrowing your watch, telling you what time it is and then charging you for it – has been well-worked, I have other ideas.

For example, if your satisfaction scores are poor, twos, threes and the odd four, then why not make it out of seven? Make it clear to those who are voting but maybe not so much for anyone else and, for those really dreadful operators out there desperate for a reboot, make it out of eight?

Yes, you could make it all clear in the small print for those with a magnifying glass but five (albeit out of seven, eight or ten) might sound more appealing than a three.

And, if you don’t like those suggestions, I have others but – and here another leaf out of the consultant’s book – the clock is ticking. On to the news:

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PUBS & RESTAURANTS:

Business confidence:

The ICAEW’s latest national Business Confidence Monitor (BCM) has shown that business sentiment deteriorated further into negative territory in Q3 2025. The ICAEW says ‘this increased pessimism is underpinned by elevated concern over the tax burden as well as above-average inflation, and weak domestic and exports sales growth eroding businesses’ profit margins….’

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More on confidence:

And the British Chambers of Commerce has chipped in, saying that tax concerns are elevated. The BCC may hope to influence Budget planning as it says that there are growing concerns that the chancellor will be tempted into launching another tax raid on business.

Disposable incomes:

Wage growth has dropped to a four-year low reports that latest KPMG and REC: UK Report on Jobs. It says that salaries almost stagnated in September. Neil Carberry, chief executive of REC, says ‘pay trends remain subdued where pay is set by the market rather than the Government. This suggests that pay growth should not be a drag on the Bank of England’s upcoming interest rate decision….’

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Tipping:

The FT comments on tipping saying that the ‘service charge in London has been a standard 12.5 per cent for a while…but 15 per cent is becoming more common…’

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COMPANY NEWS:

Mission Mars is reported to have hired advisers at Houlihan Lokey to sound out potential buyers in what could be a £100m disposal…

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Gaucho Grill company, Lomo Topco, has reported numbers to 29 December saying that revenues slipped by 3.5% to £72.5m. Unfortunately, the gross profit margin also slipped to 42.2% (from 42.9%) and the gross profit, as a result, is down to £30.6m from £32.2m in the prior year. Gaucho reports pre-exceptional EBITDA of £6.1m against £9.1m in FY23. Exceptional costs, largely comprising impairment costs, were £7.3m in the year, up from £2.9m in FY23. Interest costs are a hefty £5.8m (up from £5.1m in the prior year, and the loss before tax is £14.5m compared with £7.4m in FY23…..

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Wendy’s Restaurants UK has reported full year numbers to 31 Dec 2024 to Companies’ House. The ‘principal activity of the company is that of the operation and franchising of quick-service restaurants serving high quality food.’ Wendy’s reports that revenues rose by 6.4% to £34.0m. GP% has increased from 26.5% to 28.2% but an 18% rise in admin expenses has meant that operating profit slipped by 3.9% to £1.9m. Both interest charges and interest receivable are higher and the PBT is 6% down on the prior year at £1.18m. Retained profits since incorporation are £3.1m and shareholders’ funds are a positive £21.8m…

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Spanish Brewer Damm has said that it intends to become the ‘largest independent beer and total beverages company in the UK’ after its purchase of what is now the “Damm Eagle Brewery” in Bedford from Carlsberg Marstons. The site was formerly Charles Wells Brewery before the latter sold the brewery to Marstons in 2017.

OTHER LEISURE:

Google has cautioned that the UK is at risk of imposing ‘onerous’ on tech stocks after the CMA reported that its search function was strategically important to the UK. This, potentially, could imply closer regulation.

FINANCE & MARKETS:

US President Donald Trump has threatened additional 100% tariffs on China imports, after accusing it of taking an ‘extraordinarily aggressive position’ on trade.

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Sterling mixed at $1.3358 and €1.1522. Oil down at $62.09. UK 10 year gilt yield over the weekend trading around 8 basis points lower. World markets down on tariff & other fears and London set to open sharply lower.

RETAIL WITH NICK BUBB:

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