Langton Capital – 2025-10-20 – Various Eateries, DP Poland, trading, employment, sentiment & other:
Various Eateries, DP Poland, trading, employment, sentiment & other:A DAY IN THE LIFE: York hosted the Yorkshire Marathon yesterday. It shuts down our lane every single year for about eight hours and, as we’d been out of the country for a little while, it came as a bit of a surprise and led to us hastily moving the car from our lane to the chip shop so that we could still use it on Sunday. Which is all a bit of a drag. I mean they close the roads our neck of the woods about 10am and, as the race starts at 9.30am and we’re at the 24.5 mile marker, I don’t know who they think will be passing us after half an hour. Maybe the odd motorbike? Still, driving through a marathon and scattering runners, bollards and yellow hazard tape hither and thither wouldn’t have been a good look so we had to live with it but, after all these years, couldn’t we move the race somewhere else? The north of York, perhaps? Where all those hills are or Leeds or Huddersfield or somewhere? Or a racetrack? Anyway, it’s a pleasant thought but, as we all know, the easiest thing to do this year is what they did last year. Still, Hull City managed a win over the weekend to sit, somewhat remarkably, in the top half of the Championship table, so it wasn’t all bad. 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: Trading: CGA has updated on trading over the two weeks to 27 September and 4 October saying that LFL sales rose by 2.8% and 0.1% respectively. The latter week included the impact of the first named storm of the season, Storm Amy. Whilst the fact that the cash figure is rising is welcome news, both figures are below the current rate of CPI, which stands at 3.8% and where the ONS will update on numbers on Wednesday… • 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. Employment levels: Employment levels – and particularly the direction of employment trends – has a major impact on consumer confidence and thus on spending. The IEA reports on the market saying that ‘employment and vacancies are down, working-age inactivity remains an apparently intractable problem, and unemployment continues its upward creep.’ It says ‘job losses are particularly noticeable in retailing 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. Employment trends: The ICAEW reports that 56% of respondent firms to its jobs survey have said they would cut staff or stop hiring if taxes are further hiked in next month’s Budget. Some 45% of firms would raise prices… • 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. Weak consumer sentiment: The latest EY-Parthenon report on the economy points to a rise in profit warnings on the back of weak consumer confidence. It says such warnings are running at three year highs with around 64 profit warnings between July and September. It says that 19% cited falling consumer sentiment, up from 6% a year earlier and the highest since 2022… • 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. Other news: The position of hospitality within society. A report from Zonal, CGA and UKH has found that some 69% of brits say hospitality plays an important part in their communities. As many as 74% agreed when prompted that the industry needs and deserves greater support from Government…. • 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. Low and no alcohol drinks. A survey commissioned by CGA has found that 74% of business leaders believe that health-consciousness, lifestyle changes and cost pressures are all influencing how consumers spend their money in hospitality… Fish & chips. The Telegraph reports that fish and chips, which ‘was Britain’s national dish’ is now ‘an unaffordable luxury….’ • 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. Weight loss drugs. David Read, chair at Prestige Purchasing, has told the MCA’s Innovation Conference that weight-loss drugs, whilst they don’t necessarily spell the end of indulgence, could still force hospitality operators to dynamically adjust to “significant changes” in consumer behaviour as their usage increases. VARIOUS EATERIES – FULL YEAR UPDATE: Various Eateries, which operates the Coppa Club and Noci chains of restaurants, has updated on trading for its year to 28 Sept 2025 saying that the group has seen a ‘return to like-for-like growth and record profitability.’ The group ‘expects full-year revenue of £52.4m (2024: £49.5m), +6% year on year and ahead of current market expectations of £50.7m.’ It says that FY adjusted EBITDA ‘is expected to be at least £1.1m (2024: £0.3m) versus market expectations of £0.4m.’ • 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: DP Poland PLC has announced that it has exercised its ten-year renewal option under the Master Franchise Agreement originally dated 25 June 2010 with Domino’s Pizza International Franchising Inc. Under the renewed Master Franchise Agreement, which became effective on 1 September 2025 and extends for ten years, DPP will retain ‘the exclusive rights to develop and operate the Domino’s Pizza brand in Poland, including company-owned stores and sub-franchise operations.’ There is an option to extend from 2035 to 2045 in due course… The Guardian reports that Argentinian steak restaurant chain Gaucho is ‘slashing the share of the service charge its waiters receive, using some of the funds to bump up the pay package of head office workers….’ Brew York has announced that North of England businessman Geoff Hodgson is to join the group as chairman. Brew York co-founder Wayne Smith says ‘to have someone of Geoff’s calibre on the Brew York team – with the years of experience and success he brings – is immense. We’re really excited to welcome him and are already enjoying the new dynamic we have….’ • 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. In the US, Papa Murphy’s , which has around 1,000 units, has closed a number of underperforming restaurants as part of an initiative to improve average performance. Lagardère Travel Retail, which operates 1,600 F&B stores across 150 airports and 100 train stations in 30 markets globally, has reported Q3 revenues saying that strong performances and F&B unit growth, particularly across the EMEA and South America, saw the company generate some $2bn in sales in the quarter. Growth in South America and Africa hit 35% with the Middle East up 32%… Brown Forman. Drinks Business reports CEO Lawson Whiting as saying that his plan to double the size of the group will take “a couple of years longer” than expected. It reports that the slowdown comes amid weakening global demand for Bourbon, political headwinds and investor pressure. Fired Up Collective pub The Old Thatch in Wimborne has been officially named Dorset Pub of the Year at the 2025 at the Dorset Tourism Awards. HOLIDAYS & LEISURE TRAVEL: UK Inbound has updated its Business Barometer, saying that inbound visitor companies are reporting stable trading conditions . It says contributors expect performance to be broadly in line with 2024 levels…. • 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. Mandarin Oriental Hotel Group, which is controlled by Hong Kong-based Jardine Matheson, is to be taken wholly private as Jardine bids to acquire the 11.96% of the hotel company’s shares that it does not already own. OTHER LEISURE: Virgin Active, which owns and operates the Virgin health and fitness business in the UK (and which is wholly-owned by Virgin Active International, has reported results to 31 Dec 2024 saying that revenues rose by 8.3% to £130.4m and that the operating loss widened to £11.1m from a loss of £4.5m in the prior year, somewhat due to impairments, see below. Under the operating line, as a subsidiary, finance charges comprise third party payments (largely for rent) and intercompany charges (and receipts). The reported loss before tax is £21.9m compared with a loss of £15.2m in the prior 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. Gambling company Betfred has said that it will have to close all of its 1,300 shops in the UK if taxes are increased on the betting industry… FINANCE & MARKETS: Bank of England chief economist Huw Pill has said that UK interest rates should be cut at a “more cautious pace” in the next year. Governor of the Bank of England Andrew Bailey has commented on Brexit’s impact on the UK economy saying that ‘for the foreseeable future it is negative, but over longer time there should be a positive, albeit partial, counterbalance….’ The Daily Mail reports that, whilst ‘Labour’s ambition to make Britain the fastest-growing economy in the G7 is a noble cause,’ Britain is nonetheless suffering an ‘inflation calamity’. China says it is still on track to hit its economic targets despite weaker growth being reported in Q3. Rightmove reports that the UK housing market appeared weaker in September as the numbers of new sellers coming to the market tracked some 5% below year-ago levels. Sterling mixed at $1.3433 and €1.1514. Oil higher at $61.01. UK 10 year gilt yield up 6 basis points at 4.54%. World markets down on Friday but better in the US and in the Far East today. London set to open around 37 points up 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. |
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