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Energy costs, Giggling Squid, Cook’s Coffee, holiday demand & other:

A DAY IN THE LIFE:

Taking the opportunity to get out and into the sunshine in North Yorkshire yesterday, there were several 2026 ‘firsts’.

The first sun-drenched traffic jams to the coast – the A64 just to the east of York is a veritable pig as it goes from dual to single carriageway – the first beer gardens to be (fairly) full, the first signs of, shall we politely say ‘mid-afternoon revelling’.

And, on a more mundane note, the first time we’d needed to remember how to open the sunroof and the first time – but surely not the last – that I wondered where I’d put my £4.99 sunglasses after I’d last worn them, probably around mid to late-September last year.

But anyway, it’s good for trade and, as far as the weather is concerned, if you’re going to play your joker, do it when the kids are on holiday. On to the news:

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PUBS & RESTAURANTS:

Economic outlook:

Much depends upon whether the ceasefire becomes a peace and, if it does, what is agreed in the process. Assuming that it does, admittedly a major assumption, then the economic outlook is better than it was earlier in the week…

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Energy prices:

Rises here, particularly for diesel and heating fuel prices, have been perhaps the most obvious short term financial impact from the disruption in the Gulf for UK consumers. City AM reports that ‘retail and hospitality leaders are optimistic that the Iran-US ceasefire could spare them from the worst energy bill shocks, but are urging the government to address an array of other cost pressures….’

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Other news:

Sir Tim Martin has ‘bemoaned the rise of QR codes to order drinks and food in his pubs — as it robs punters the chance of banter at the bar’, reports The Sun. The paper suggests that Sir Tim suggests he may even decide to call time on the use of the technology in the future. He questions ‘what’s a pub visit without shooting the breeze with the bar team?’

COMPANY NEWS:

Giggling Squid has reported numbers for the 52 weeks to 30 March 2025 to Companies’ House saying that revenues slipped by 2.2% to £77.0m. The company reports that its GP% rose from an already high 78.8% to 81.7%. However, whilst sales dropped, admin expenses rose by 3.0% and the trading profit fell by 25% to £2.7m. Interest charges were higher at £2.688m (FY24: £2.069m) and the group saw PBT fall sharply to £327k from £1.536m in the prior year…

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Cooks Coffee has this morning reported that its Esquires brand ‘has received multiple awards at the recent Irish Franchise Association Awards 2026.’ It says that it was ‘shortlisted as a finalist in seven of the fourteen award categories and received two awards on the night, the  Franchisee of the Year 2026 – Food and Beverage and the Franchisor of the year 2026 – Expanding (Food and Non-Food)…

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Rémy Cointreau has launched a three-year plan to revive growth saying that the proposed transformation will aim at improving margins, streamlining operations and strengthening premium brands.

Butcombe Group has reported that it has completed a refinancing ‘ahead of its next phase of growth’. The company reports that the refinancing delivers better terms to the group, and it will allow further investment in the group’s ‘existing premium estate while further enhancing acquisition capabilities…’

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Property agent Drake & Co has helped client Valiant Pub Company to complete its fourth off-market acquisition of the year. The Griffin is located in St Helens and is ‘a historic 17th-century coaching inn that is a fantastic addition to Valiant’s expanding estate.’

C&C Group has taken full ownership of the Glasgow craft brewery Drygate, reportedly the only microbrewery operating in Glasgow’s historical centre.

HOLIDAYS & LEISURE TRAVEL:

Travel Trade Gazette reports that the two-week US-Iran ceasefire is ‘a step in the right direction’ for global travel. It says that ‘travel agents are cautiously optimistic about the possibility of an upturn in bookings after the US and Iran agreed a two-week conditional ceasefire at the eleventh hour….’

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Golf and country club operator Rudding Park in Harrogate is reported to have secured a seven-figure support package from HSBC UK to develop its site. Plans to do so were first approved by the council in September 2023….

OTHER LEISURE:

National fitness chain Bannatyne Group has said that it has increased revenues by 6% in the year to end-December 2025 to £158m. The group says it has turned in a ‘resilient’ performance despite ‘difficult economic headwinds…’

AFC Wimbledon, which plays in the third tier of English football, is reported to be seeking investment via crowdfunding at a valuation for the company of £26.8m.

FINANCE & MARKETS:

The Halifax has reported that UK house prices fell by 0.5% in the month of March (having risen by 0.3% in February). The Halifax says ‘the recent slowdown in the housing market reflects the wide uncertainty regarding the conflict in the Middle East….’

Sterling down a little at $1.3397 and €1.1488. Oil up around $2 after its drop yesterday at $97.07. UK 10 year gilt yield down sharply at 4.72%. World markets much better yesterday but Far East a little mixed (as it had jumped the gun on rises) this morning. London set to open another 55 points higher as at 6.30am.

RETAIL WITH NICK BUBB:

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