Barclaycard June data, tips, economy, rates, Wahaca, Safestay & other:

A DAY IN THE LIFE:

We were out and about in North Yorkshire the other day and I asked Google Lens what a certain plant was called.

And it was a ‘mournful thistle’, which I thought sounded sadly evocative.

The next one was ‘creeping thyme’, which brought to mind Uriah Heep and it did impel me, when I got home, to look up some other strange plant names.

And there are plenty.

‘Sticky willy’, which we always called ‘sticky weed’, gets everywhere and ‘cuckoo pint’, which we knew as ‘lords & ladies’, looks pretty but is apparently rather poisonous and there are rude ones, none of which we’ll name here.

Anyway, back to the football and it’s a big game tonight.

The odds would have us win, not that it’s a given. Because the odds would also have had us face France in the final, and that’s certainly not going to happen.

But good luck to England, hope the pubs do well and let’s move on to the news:

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BARCLAYCARD CONSUMER SPENDING REPORT – JUNE 2026:

Barclaycard has produced spending data for June saying that ‘card spending grew by 1.9 per cent year-on-year in June, a marked improvement on May’s 0.8 per cent growth, but below the latest CPIH inflation rate of 3.0 per cent.’ The card issuer reports that ‘non-essential spending increased 1.7 per cent, while growth in essential spending reached a 14-month high, up 2.2 per cent’. it says that the ‘uplift was driven by a combination of stabilising consumer confidence, warm and sunny weather, and the arrival of the World Cup, which boosted several categories including pubs, clothing and general retail.’

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PUBS & RESTAURANTS:

The Economy:

Bank of England governor Andrew Bailey has said that economic growth remains the ‘big issue’ facing policymakers. His comments come as Andy Burnham has now secured the support of the vast majority of Labour MPs and his path to taking over as Prime Minister is clear. Mr Bailey says the UK has had ‘low growth for the best part of 16 to 17 years’ and he adds that ‘the overall message I would give is that the big issue is growth in the economy…’

Tips:

The Government has withdrawn its updated tipping code of practice. The proposed changes would have obliged employers to involve staff in the design and periodic review of their tipping policy but, last week, the trade union Unite called for the withdrawal of the ‘new flawed code of practice’ that, it said, would stop hospitality workers from having 100% control of their tips….

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Business rates:

City AM reports that ‘Andy Burnham has been warned that he risks breaking Labour’s manifesto if he does not go further in his plans to overhaul the business rates system.’ UKH CEO Allen Simpson says ‘it is vitally important that the government carries through its manifesto promise to scrap the business rate system and replace it with something else.’ He adds ‘if we come out of this parliament without having fixed the business rates system, [then] the 130,000 job losses in hospitality will be much, much worse.’

Other news:

Fast food. The Guardian reports that MPs are to say today that ‘fast food chains such as KFC should be stopped from opening near schools, and advertising for junk food on billboards and public transport should be banned to help curb obesity….’

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Alcohol consumption: The ISWR suggests that baby boomers are cutting back on alcohol to a greater extent than is Gen Z…

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US restaurant traffic. Revenue Management Solutions has reported that menu prices in the US were up by 3.5% in the year to May (vs overall inflation of 4.2%) with fast food prices rising by 1.2% in Q2. It reports, however, that traffic was down by 1.2% in Q2.

COMPANY NEWS:

Joule’s Brewery is set to invest £2m into the restoration of the New Inn in Harborne after planning permission was granted, reports the MA.

Risk Capital, the investment company of former Patisserie Valerie chair Luke Johnson, has taken control of Wahaca days after his interest in the business was highlighted by The Sunday Times. Wahaca, which has 14 sites in the UK, says it is ‘excited to be working with Luke and the Risk Capital team…’

The Artisanal Spirits Company has updated on H1 (end-June) trading saying that the growth from its brands was ‘offset by lower trade cask sales, resulting in Group revenue broadly in line with H1-25.’ It says that ‘H1-26 Group EBITDA was maintained vs H1-25, with improved Branded business performance and efficient cost control offsetting a lower trade cask contribution….’

HOLIDAYS & LEISURE TRAVEL:

Safestay – no bid at present. Potential suitor Infill Capital has announced that it ‘does not intend to make an offer for Safestay’. Infill ‘reserves the right to set aside the restrictions’ if it can secure the agreement of the board of Safestay or if a third party bids for the company.

Quoting Barclaycard’s data featured above, TTG reports that travel agents returned to growth in June after three consecutive months of declining spend.’

TTG reports that the UK and France are set to increase staffing at EU borders ahead of the major summer getaway later this month…

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The value of Sheffield’s visitor economy is reported to have passed the £2bn mark last year on the back of events including the World Snooker Championship and the Tramlines Festival. Spend was up 8.7% in 2025 on the prior year….

OTHER LEISURE:

The government has announced that older teenagers in the UK will face an overnight social media curfew. Sixteen and seventeen year olds will be ‘banned’ from accessing sites after midnight but will be able to opt out of the ban if they so wish. Technology secretary Liz Kendall says the ‘measures will be crucial in helping young people get the sleep they need, focus on school and college, and spend more quality time with family and friends, all of which are fundamental to building a happy, healthy and fulfilling adult life.’

Observers estimate that layoffs in the video game industry have risen to around 58,000 roles since 2022.

Audioboom has updated on H1 (end-June) trading saying that revenue was up by 30% with adjusted EBITDA some 80% ahead at US$3.2m. The company CEO, Stuart Last, says ‘we continue to execute our growth strategy.’ He says ‘the momentum we have built during the first half of 2026 provides us with confidence for the remainder of the year.’

FINANCE & MARKETS:

The US government has repaid around $81bn of the now-deemed-to-be illegal tariffs that it levied on mostly US businesses and importers – ultimately the US consumer – while the tariffs were in force.

Mr Trump, perhaps with the above in mind, has reversed his ‘plan’ to tax ships in the Gulf 20% of the value of their cargo. The proposal was made over the weekend with the Taco coming on Tuesday.

Economic growth in China slowed in Q2 to an annualised 4.3%, below the official target of 4.5% to 5%. Beijing says the slowdown is due to ‘external instability and uncertainty factors.’

US inflation. The Bureau of Labour Statistics reports that inflation in the US fell to 3.5% in the year to June, down from the 4.2% recorded in May. The drop came on the back of lower oil prices but an element of this has recently reversed.

Sterling mixed at $1.3401 and €1.1716. Oil up at $85.42. UK 10 year gilt yield down 3 basis points at 4.98%. World markets better yesterday but London set to open down around 33 points as at 6.30am.

RETAIL WITH NICK BUBB:

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