Barclaycard spend data, jobs market, RNK, GRG, Nichols, trading & other:

A DAY IN THE LIFE:

A couple of our trees are still wearing the season’s apples.

True, the others are largely on the grass (or cooked up into something or other), where they’re feeding the thrushes and redwings but the blackbirds seem to prefer the ones still on the trees where, rather annoyingly, they have a habit of pecking a bit out of as many as they can, safe, presumably, in the knowledge that the foxes can’t get them while they’re eating.

Which is all well and good but where, I may ask, does that leave me?

Many dozen apples the poorer, is where.

Alternatively, I can eat three quarters of as many of the things as I can manage and that, experience has proven time and again, isn’t such a good idea.

Anyway, I don’t want to be that person shouting at wildlife, largely because they wouldn’t take my views on board in any case so, as long as my constitution can take it, it’s going to have to be apples for breakfast, dinner and tea.

On to the news:

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PUBS & RESTAURANTS:

Consumer spending:

Barclaycard has produced spending data for October saying that consumer card spending fell by 0.8% year-on-year in October. This is a tad worse than September’s minus 0.7% and it is considerably worse when the impact of inflation, last seen at 3.8%, is factored in. Barclaycard reports that ‘essential spend declined 2.5% for the sixth consecutive month, while growth in discretionary spending was flat (0.1%), as a combination of pre-budget anticipation, upcoming Black Friday deals and milder weather led consumers to delay purchases or cut back across a number of categories….’

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Trading:

Lumina Intelligence suggests that over 90% of hospitality leaders consider current trading conditions to be ‘challenging’. It suggests that rising costs, particularly of labour, and current and feared future tax hikes, have put the industry on its back foot…

Employment

The ONS has updated on UK employment in the period July to September 2025 saying that the rate of employment is down, the rate of unemployment is up and average earnings excluding bonuses was 4.8% in the year to that date…

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Other news:

Budget lobbying. Leon Thompson, director at UKH, has said that hospitality firms north of the border are struggling due to ‘unsustainable costs that continue to stifle growth, threaten jobs and business viability’. He says ‘we need to see the UK Government tackle business costs in the Budget in November…’

COMPANY NEWS:

Nichols plc has announced the appointment of Matthew Rothwell as Chief Financial Officer and Company Secretary. It says that Matthew will join the Group no later than 13 April 2026….

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Greggs has launched a smaller store format, called “Bitesize Greggs”. It says that the smaller shops will allow the company to target specific high-footfall locations that are space-constrained…

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Beyond Meat has reported Q3 numbers below expectations. The group’s shares, which have been extremely strong on a recent bounce, fell by 8% in extended trading…

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Diageo shares rose by 95p or 5.5% on news that former Tesco boss, Sir Dave Lewis, will take over as CEO of the group on 1 January 2026.

Azurrri Group, which operates the ASK Italian, Zizzi, Coco di Mama and Dave’s Hot Chicken chains of restaurants, has said that 2025 has been a transformative year that has seen it enter the fast-growing fried chicken segment….

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Canadian listed global major Restaurant Brands International Inc., which owns the Burger King, Tim Horton’s and Popeyes chains of restaurants, has announced a joint venture with CPE (formerly CITIC Private Equity) to ‘unlock the next phase of growth for Burger King in China.’ The company says ‘the joint venture aims to expand the brand’s footprint in the market from roughly 1,250 restaurants today to over 4,000 by 2035….’

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HOLIDAYS & LEISURE TRAVEL:

A deal aimed at reopening the US government has passed the Senate. The impasse is currently already the longest on record and had been affecting government receipts and payments as well as its ability to perform some functions such as the oversight of air-traffic control. Thousands of flights had been cancelled or delayed and many more were set to follow.

Smart Rental Group is to bring its Malacuna hostel brand to three cities in the UK. The group is set to open in Manchester, Liverpool and Birmingham. Group CEO, Carlos Escoda, says ‘the UK is a key milestone in our international growth strategy and one of Europe’s most exciting hospitality markets.’ He says ‘we see huge potential in the UK for a brand that connects with the discerning modern traveller who values culture, creativity and connection.’

OTHER LEISURE:

The Rank Group Plc has announced that ‘John H. Ott will be appointed as chair of the Company, with effect from 17 November 2025.’ It says that ‘John is currently a Senior Advisory Partner at Bain & Company, UK, having joined the company in 2006, alongside being a founder, investor and board member for two private businesses, a data and technology services business, and a global fractional ownership business….’

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US PE house Apollo Sports Capital is to become a majority shareholder of La Liga football club Atlético Madrid. The financial terms of the transaction have not been disclosed.

FINANCE & MARKETS:

For jobs market data, see Pubs & Restaurants above.

Sterling up at $1.3164 and €1.1390. Oil lower at $63.83. UK 10 year gilt yield down 2 basis points at 4.46%. World markets mostly better yesterday and London set to open up around 61 points better as at 6.30am.

RETAIL WITH NICK BUBB:

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