YNGA, Vianet, Hippodrome, World Cup, jobs market, rates & other:

A DAY IN THE LIFE:

I’m really not a fan of self-service tills at supermarkets.

Because I don’t know where the bar code is and, on a square or rectangular product, I’m only going to find it on the sixth attempt which, in my book, is wasted time that I’ll never get back.

And if you buy some beer – or even paracetamol – you’ll be there and extra minute or two and heaven help you if the bar code is bent, folded or torn in half because then you’ll bring operations in the whole shop to a halt. 

And then, after dawdling, time wasting and whatever other hurdles it’s been able to put in the way of you getting on with the rest of your day, the machine will tell you to ‘Please take your groceries’ every four or five seconds for the next couple of minutes while you pack your bags.

Anyway, that is what it is. Hopefully most readers have managed to catch up on a little sleep after the Monday morning England game and it’s time to get on with the rest of the week. On to the news:

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PUBS & RESTAURANTS:

World Cup trading:

The Oxford Partnership reports that a third of pubs stayed open into the early – and not so early – hours of Monday morning in order to screen the England vs Mexico game. It says the game drove ‘significant increases in footfall, consumer spending and draught beer sales across England….’

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Jobs market:

Whilst most individual company moves are small in relation to the UK jobs market as a whole, it’s nonetheless interesting to note that ASDA is planning to cut around 150 head office roles in order to both save costs and target efficiencies potentially provided by AI…

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Biter bit. And, elsewhere, Microsoft said yesterday that it was cutting 4,800 jobs, admittedly only around 2% of its global workforce, to cut costs as it shakes up its Xbox gaming division where around 3,200 jobs will be shed…

Other news:

Tips. Union Unite has called for the withdrawal of the ‘new flawed code of practice’ that, it says, will stop hospitality workers from having 100% control of their tips….

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Discounting: Not a humungous amount of it about but still interesting to note that GDK is giving 50% off mains for the period 6-12 July, which is World Kebab Week.

Business rates: Work carried out by global tax specialists Ryan has suggested that Andy Burnham’s plans to overhaul business rates and move some of the burden from high streets to warehouses would cost around £880m a year…

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US trading: In the US, Placer AI has reported that fast food traffic declined in May by 4.4%, continuing a trend that has been in place for most of this year. IT adds that full-service traffic, on the other hand, rose by 0.7%, reversing two months of declines.

YOUNG & CO – AGM TRADING UPDATE:

Young & Co reports that ‘the strong trading momentum highlighted in our full year results on 21 May 2026 has continued into the new financial year.’ It says that ‘revenue for the first 14 weeks from 31 March 2026 increased by 9.4% in total and 5.5% on a like-for-like basis against a strong prior-year comparator.’ When the company commented at its full year numbers, sales for the first five weeks of FY27 were up 3.4% on a like-for-like basis, also against very strong prior year comparatives. The company adds that the ‘performance was supported by exceptional trading over the late May bank holiday weekend, particularly in pubs with gardens and our riverside locations.’ Turning to the football, YNGA says ‘trading also benefited from the start of the FIFA World Cup, including extended opening hours for later England matches, as well as the more recent boost from Wimbledon.’

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COMPANY NEWS:

Vianet Group  has updated on trading in a statement that will be read to its AGM. Chairman James Dickson says he is ‘pleased to report that FY27 has started positively.’ He says ‘both our Hospitality and Unattended Retail divisions have delivered recurring revenue and gross profit growth during the first quarter compared with the prior year, with trading ahead of management’s expectations….’

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The Carlsberg Group and Sapporo have entered into an agreement ‘to form a major strategic joint venture across Southeast Asia and Hong Kong and partnership in the UK.’ Carlsberg says that this will build on the ‘successful collaboration’ in other areas….

Peter Borg Neal, the founder of Oakman Inns, has been appointed chairman of Manchester brewer & pub company Hydes. He takes over from Richard Lancaster & brings with him over 40 years experience in pub retailing….

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Japanese-themed restaurant chain Bone Daddies has reported results for the year to 28 September to Companies’ House saying that revenue slipped by 10% to £16.9m. GP% rose slightly, to 79.6% from 78.6% in the prior year but, in absolute terms, gross profit fell by 8.9% to £13.5m. Admin costs were trimmed, but they fell by less than did turnover, and, despite interest received of £390k, the loss before tax widened to £1.08m, up from £299k in the prior year…

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Loungers is to open a unit, Varo Lounge, in Sunderland’s Keel Square. The council notes this is ‘another milestone in its ambition to create a vibrant city centre’.

Petrol retailer EG On The Move has purchased 85 former PRAX petrol forecourts….

HOLIDAYS & LEISURE TRAVEL:

The FT reports that a new online system to pre-authorise entry to the EU is set to be delayed until next year, after what it calls ‘the chaotic rollout of a separate electronic border-check system disrupted visits to the bloc….’

US hotels & the World Cup. Finally reflecting a significant World Cup impact, CoStar reports that the US hotel industry reached all-time highs in both revenue per available room and average daily rate in the week of June 21-27. It says that ADR was up 9.2% on the same week last year and REVPAR was some 9.6% higher.

OTHER LEISURE:

ITV announced yesterday that it is to sell its media and entertainment divisions to Sky for £1.6bn. The companies say this will create a strong rival to global streaming giants. The deal will include ITV’s broadcast channels and its ITVX streaming service. Sky is ultimately owned by US media giant Comcast…

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The Hippodrome Casino, whose principal activity is that of a gaming and entertainment establishment, namely the Hippodrome Casino in London’s Leicester Square, has reported results for the year to end-December 2025 to Companies’ House saying that its turnover rose by 1.9% to £116.8m (FY24: £114.6m). Gross profit rose by 3.6% to £67.2m but, as admin costs were 8.8% higher at £61.7m. operating profit  fell by around a third to £5.5m (FY24: £8.2m). Interest costs were some 15% lower at £2.8m but ‘other gains and losses’, which pertain to the ‘re-measurement of financial liabilities’ was down to £170k in FY25 from £8.9m in the prior year. PBT was therefore £3.8m as against £14.8m in the previous year. The accounts, as would be expected, were produced under the Going Concern principle….

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FINANCE & MARKETS:

S&P has released its June Purchasing Managers’ Index for the UK’s construction industry saying that the sector ‘recorded further sharp declines in output and new orders during June.’ it adds, however, that ‘both rates of contraction eased from May’s six-year records’ and cost pressures moderated with less acute supply chain problems…

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Sterling up at $1.3388 and €1.1704. Oil up around a dollar and a half at $72.57. UK 10 year gilt yield up 4 basis points at 4.81%. World markets mixed yesterday & London set to open around 15 points higher as at 6.30am.

RETAIL WITH NICK BUBB:

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