Langton Capital – 2026-01-09 – Business rates, menus, Dry January, Bill’s, Gregg’s, Belhaven & other:
Business rates, menus, Dry January, Bill’s, Gregg’s, Belhaven & other:A DAY IN THE LIFE: Well, it looks like we’re going to make it to the end of the first full working week of the year without major problems. That’s both Langton and the sector in general and, as I feel justified in suggesting that the first real weekend of the year should start around 10am today, there isn’t too long to go. Admittedly, the break finishes around lunchtime Sunday when we have to start thinking about Monday. but that’s a problem for Tomorrow Me and, as today is today, we’ll worry about that some other time. Anyway, not sure the pitch will have warmed up enough to get a game in tomorrow – and it’s ‘only’ the FA Cup anyway – but, on the basis that it does, here’s wishing The Mighty Hull City the best of luck vs Blackburn. Hope storm Goretti didn’t cause you too many problems, have a good weekend and 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: Business rates: A U-turn seems to be coming on business rates, if only with regard to pubs Sky News reports that its deputy political editor Sam Coates has ‘heard that a rescue package that could help with this [additional cost brought about by the further tapering of Covid-era business rates relief] is coming in the next few days – but only for pubs.’ Some other operators, hoteliers, retailers and the like, may now be looking at rises if the concessions are not to skew the books. Whilst the devil could still be in the detail, industry bodies have largely welcomed the news… • 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. Evolving markets: Lumina Intelligence’s latest Menu & Food Trends Report suggests that some 76.7% of same-item prices in restaurants had increased by the end of 2025 vs 2024. Some 12.0% of dishes saw prices remain unchanged and only 11.3% of dishes had seen a price cut. These, presumably, those impacted most by commodity price changes rather than, for example, labour costs. Lumina goes on to report that ‘operators also initiated more cuts than 2024. Pubs trimmed starter prices, while restaurants lowered desserts and sides, strategically nudging spend per head rather than risking alienation through blanket price hikes….’ • 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. Dry January: Alcohol consumption in January hits a seasonal low but City AM warms to the idea that consumers may embrace the idea of a dry – or drier – month in January with a little more enthusiasm than they have in previous years… Other news: Data from Worldpanel suggests that consumers’ spend on alcohol this Christmas fell at the sharpest pace since lockdown. Pub is The Hub notes that grant funding of up to £6,000 should be available to help pubs add new services and activities. It says that activities can ‘include a range of services from community cafes, village stores, and allotments, to activities such as theatre and craft workshops, to help bring people together to combat social isolation and loneliness.’ The Trump administration in the US has retired advice on how much it may be safe to drink. The US has recommended no more than two drinks a day for men and one for women for many years…. COMPANY NEWS: Restaurant chain Bill’s has reported full year numbers to 5 Jan 2025 to Companies’ House saying that revenue rose by 1.2% to £96.4m with GP% up to 77.7% from 76.9% in the prior year. Admin expenses are up by 4.8% but the company is able to report EBITDA up 30.5% at £11.3m. Write downs in asset values and higher depreciation alongside onerous lease charges mean that operating profit fell by 35.6% to £2.4m. There is little interest payable and PBT was down by 33.3% at £2.3m… • 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. Gregg’s share price slid by almost a Pound yesterday (down c5.5%) after the company cautioned that 2026 profits would show little, if any, growth. Elsewhere, the company has attracted media attention for its latest price rises and for its comments on the impact of weight-loss jabs… • 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. Greene King’s Belhaven subsidiary reports that it has invested £5m in its pubs since the launch of its franchise model last 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. Hofmeister Brewing Company has updated on distribution saying that it has appointed Kingfisher Drinks as its national logistics partner. This follows the filing of a Notice of Intention to Appoint Administrators by former distributor Keystone Brewing Group and ‘ensures that Hofmeister retains full control over its route to market while capitalising on the explosive growth of the World Lager category….’ Surrey-based Hogs Back Brewery has said that it will be reducing the price of its drinks in its Tap throughout January by the 20% that is added to net costs in the form of VAT… • 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 proposed deal whereby Soho House would be taken private in the US looks tobe under threat as the MCR Hospitality Fund has disclosed that it will be unable to fully meet its $200 million funding commitment tied to the group’s proposed sale. Soho House shares fell by around 12% in pre-market trading yesterday. HOLIDAYS & LEISURE TRAVEL: STR reports that US hotels saw occupancy rise by 4.4% in the week to 3 Jan vs the same week a year ago. Occupancy is at seasonally very low levels during the week in question. Room rates were up by 3.4% and REVPAR was 7.9% higher. OTHER LEISURE: Comscore reports that cinema attendance across UK and Irish outlets was its highest since Covid last year. Comscore says box office revenue across the two countries were up by 1% at £1.07bn. By way of comparison, revenues in 2019, since when there has been a material bout of inflation, were £1.35bn. Mellors Group has purchase Lightwater Valley Family Adventure Park in North Yorkshire for an undisclosed sum. The Telegraph reports that Britain could ban Elon Musk’s X amid a row over its AI undressing women and children in photographs. The PM, Sir Keir Starmer, has said that he had asked media regulator Ofcom for ‘all options to be on the table’ in response to the problem. FINANCE & MARKETS: The Halifax reports that UK house prices dipped in December by 0.6%. This follows a fall of 0.1% in November and it brings the annual rate of increase down to a sub-inflation 0.3%, from 0.6% in the year to November…. • 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. Sterling mixed at $1.3428 and €1.1529. Oil up sharply at $62.50. UK 10 year gilt yield down 1 basis point at 4.40%. World markets mostly better yesterday and London set to open some 27 points higher 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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