MARS, GRG, OTB, jobs market, Scotland, retail sales & other:

A DAY IN THE LIFE:

Do you ever try to get ahead of a problem or do you usually wait for it to slap you in the face and demand your attention?

Does your heating oil run out occasionally or do you have some equation pinned to the kitchen wall dragging in temperature averages, bathtime frequency and rooms-in-constant-use data or, like the rest of us, do you take the variable approach and take the odd slap whilst trying to avoid an out-and-out disaster?

Because I’m definitely in the latter camp.

Because, whilst I try to get ahead of blown tires by changing them when the tread gets a bit dodgy, I’m inconsistent with most other repairs, vehicular or otherwise and I have yet, as far as I can recall, to replace a laptop or a phone before it’s blown up and caused all sorts of problems, stress and the like.

And, talking about stress, the Mighty Hull City managed to turn up last night and Wembley and the most lucrative game in football awaits. No pressure lads. On to the news:

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PUBS & RESTAURANTS:

Jobs market:

The EY Item Club has suggested that the UK jobs market will worsen as the year progresses with some 163k jobs net likely to be lost. It says that London will be one of the most directly impacted geographies with around 25k jobs likely to be cut in hospitality & retail…

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Scotland:

UKH Scotland says that reforming the broken business rates system should be the top business priority for the new Scottish Government. It also calls on the Scottish Government to invest in hospitality skills and ‘create sector-based work academy programmes to help people back into work and ensure Apprenticeship Levy funds support hospitality….’

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Retail sales:

The BRC-KPMG Retail Sales Monitor has reported that UK Total retail sales decreased by 3% year on year in April, against a growth of 7% in April 2025. It adds that ‘food sales decreased by 2.5% year on year in April, against a growth of 8.2% in April 2025’ and says that ‘non-Food sales decreased by 3.3% year on year in April, against a growth of 6.1% in April 2025….’

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Other news:

Various import bans imposed by Canadian provinces have led to a 63% drop in US exports of alcoholic products to the country. Chris Swonger, president and CEO of the Distilled Spirits Council of the United States, says that ‘President Donald Trump’s tariffs have prompted retaliatory action, particularly from the European Union and Canada, which has hurt the U.S. alcohol industry.’

MARSTON’S H1 NUMBERS

Marston’s reports revenue down 1.1% on an underlying basis at £422.7m. EBITDA is level at £85.9m and PBT is up 7.9% at £20.5m. MARS reports basic EPS up 9.1% at 2.4p and, as last year, there is no dividend. The NAV per share is up 19.6% at 128p. The group reports that LFL ‘sales for the half year were ahead of the market but down 0.5%.’ The company had previously reported on a strong Christmas period and said at its Q1 update that ‘sales for the 17 weeks have remained resilient, with performance tracking in line with the prior year and continuing to outpace the total market.’

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COMPANY NEWS:

The Coppa Collective has reported a rise in like-for-like sales and group revenue in its half-year trading update, reports Restaurant Online. The group saw a like-for-like sales growth of 3.2% in its core Coppa Club brand for the 26-weeks to 29 March 2026, with group like-for-like revenue rising to £25m, up from £24.7m….

Insolvency Insider reports that Las Iguanas, the Latin American-themed restaurant chain owned by private equity-backed Big Table Group, ‘has launched a restructuring plan aimed at eliminating approximately £37 million in loan note liabilities and resetting lease obligations across its UK estate.’

Wahaca chair Mark Selby, who has transitioned to the role from that of CEO, has told Restaurant Online that his successor, Gemma Glasson, ‘ticks every box…’

Terroirs & Vignerons de Champagne has announced the appointment of Yann Bourigault as General Manager of Castelnau Wine Agencies UK. It says that Bourigault, who ‘brings more than 25 years’ international wine and Champagne experience’ to the role, will ‘lead the development of Champagne Castelnau and its on-trade presence in the UK.’

COMPASS GROUP – H1 RESULTS:

Compass Group yesterday reported H1 numbers. The shares finished trade yesterday around 2.3% higher. Our fuller comments below:

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HOLIDAYS & LEISURE TRAVEL:

Overseas holiday prices may fall, reports the FT. It says that ‘airlines across Europe are cutting prices for summer flights to counter a delay in bookings, as customers worry that jet fuel shortages will disrupt their holiday plans….’

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Safestay has announced the appointment of Davide Caschili to the Board of Directors of the Company as Chief Operating Officer. It adds that ‘Davide Caschili has more than 25 years of hospitality experience, with a strong track record in hostel and hybrid hospitality operations across the UK, Italy and the US.’

Heathrow has reported that passenger numbers fell by 5.3% last month largely, it says, as a result of the conflict in the Middle East….

OTHER LEISURE:

Sky News reports that Vue, Europe’s largest cinema operator, ‘has appointed investment bankers to manage a sale or stock market listing which could value it at close to £1.5bn as it anticipates a summer box office bonanza.’

The FT reports that a stake sale has valued Barry and Eddie Hearn’s sports empire at more than £1bn….

The BBC reports that TikTok is introducing a subscription charge for UK users who do not want to see adverts on the platform.

FINANCE & MARKETS:

Sterling mixed at $1.3584 and €1.1555. Oil a shade lower at $104.74. UK 10 year gilt yield up 9 basis points at 5.00%. World markets up yesterday but London due to open down around 58 points as at 6.30am.

RETAIL WITH NICK BUBB:

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