Deliveries, FIFA, Q2s (SBUX, Chipotle, ABInBEv, Remy, Campari) & other:

A DAY IN THE LIFE:

It would be helpful if the weather would stop messing us around.

If it would just stop at 22 degrees on the way up, and not rise to 35 and then, on the way down, don’t bother getting into single digits. That’s a bit chilly and around 12 at night would be nice and then straight back to 22 after dawn.

I mean, is that too much to ask?

Because what, with my arms sticking to my desk and my head to my pillow, it’s a bit of a challenge getting any work done.

Anyway, that one may be falling on deaf ears and all that. On to the news:

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PUBS & RESTAURANTS:

Deliveries:

The latest NIQ Hospitality at Home Tracker reveals that ‘deliveries to consumers watching the World Cup at home helped Britain’s restaurant groups to solid like-for-like growth in June.’ It reports that ‘total at-home revenue for the month was 3.3% up from June 2025 – the third best performance since late 2024, after 4.0% growth in May….’

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Other news:

Low and No. The MA reports comments from KAM research manager Charlotte Varney to the effect that more people want a low & no alcohol beer than tap water in a pub now. She said that a third of pub visits are completely alcohol-free….

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COMPANY NEWS:

Yesterday was a good day to report good numbers. Nichols’ shares finished trading yesterday up by 35p or 3.45% after the group reported H1 numbers. Gregg’s shares, where the company also reported H1 numbers, were even stronger. They finished the day up by312p or 18.46% on the belief that the company may have returned to growth.

AB InBev has reported Q2 numbers to end-June saying that revenues rose by 5.6%. Reported revenue, taking into account positive currency movements, was up by 11.0% to $16.66bn. Revenue for the first half as a  whole was up by 11.5% at $31.93bn. AB InBev reports volumes up by 0.9% in the quarter and normalised EBITDA up by 5.8% to $5.94bn. The group reports that underlying profit was $2.39bn in the quarter, up from $1.95bn in the same quarter last year. EPS is up by 23.4% on the same basis to 121c…

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Chipotle in the US reported Q2 numbers after hours yesterday and its stock rose by 6% in late trading. The company reports that same-store sales grew 2.2%, ahead of forecasts but against soft comps in the same quarter last year when LFL sales dropped by 4%. The company reports a 1.2% increase in average spend per head and a 1.0% increase in transaction numbers. Chipotle reports revenue up by 9.3% to $3.35 billion, slightly ahead of the $3.33 billion that had been expected and adjusted earnings per share was $0.33 vs forecasts of $0.32…

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Starbucks, which has a September year end, yesterday reported Q3 numbers saying that LFL sales rose by 7.9% in the U.S. in Q3. Transaction numbers were up by 4.2% in the period with average spend up by 3.6%. The company raised guidance for the year as a whole saying that Q4 sales should be up by 6.5% or more on a LFL basis in the U.S.. The shares rose sharply in after-hours trading…

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Spirits producer Davide Campari yesterday reported Q2 numbers saying that positive sales momentum continued in the quarter. It reports 2.5% organic sales growth with sales of €869m, slightly ahead of analysts’ expectations. For H1 as a whole, sales rose 2.7% to €1.51bn. Adjusted operating profit for H1 was up by 1.8% at €358m and the group raised its guidance for operating profit for the full year to growth of around 3%.

Rémy Cointreau, which has a March year end, yesterday reported Q1 numbers saying that sales rose by 1.1% in the quarter compared to a year ago. Cognac sales were up by 7.7% in the quarter but liqueurs and spirits sales registered an organic 6.6% sales drop. Asia Pacific was the strongest performing geography and the company confirmed its guidance for the full year.

The MA reports that bar and restaurant operator ETM Group has reported sales up by 72.4% during the World Cup at its Sport London bars.

In the US, Wingstop yesterday reported Q2 numbers saying that ‘during the second quarter, we continued making meaningful progress against the strategic priorities that we believe will drive the next phase of growth for Wingstop.’ CEO Michael Skipworth reported system-wide sales of $1.4 billion, up 5.3% on last year with some 102 net new openings.

Also in the US, the Cheesecake Factory also reported Q2 numbers saying that, for the first time, quarterly sales exceeded $1bn. The company reports traffic growth up by 2.7% and says LFL sales growth hit 5.8%. CEO David Overton told an earnings call ‘we are building on that foundation with menu innovation, deeper guest engagement through our rewards program, and operational excellence across our restaurants.’

Damm UK, which brews Old Speckled Hen, has reported that there are some delays in the delivery of the beer to customers…

Diageo’s Indian subsidiary, United Spirits, has reported Q1 net income up by 51.6% to 3.91bn rupees (or some £30.27m) in the three months to 30 June.

Thornbridge Brewery has been recognised for its charity work, specifically its outstanding support for Sheffield Children’s Hospital Charity.

HOLIDAYS & LEISURE TRAVEL:

Heathrow Airport is to be allowed to add a 15p per passenger charge to airlines in order to help fund its third runway. The Civil Aviation Authority maintains that it will continue to protect consumers from costs that it believes to be unjustified.

The Wall Street Journal has reported that Canadians made 25% fewer trips to the United States in 2025 than they did in 2024. Canadian visitor spend in the U.S. fell by $2.3 billion, while spending overseas rose by $2.5 billion

Hostelworld Group yesterday released H1 numbers to 30 June 2026 saying that it generated net revenue of €52.2m (up 12% YoY). It adds that EBITDA was up by 11% at €8.2m (+11% YoY) on an adjusted basis. Adjusted profit after tax was €4.9m (H1 2025: €5.1m) and adjusted EPS was 3.95 cent, down 2% year on year (H1 2025: 4.02 cent)….

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OTHER LEISURE:

Football. City AM reports that ‘furious European Commissioner for Sport, Glenn Micallef, has vowed that the EC will investigate Fifa’s controversial proposals to sell stakes in a new commercial entity to outside investors….’

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Google parent Alphabet has reported Q2 numbers, making clear that AI investment will impact cash flow for some time to come.

Meta, which reported Q2 numbers yesterday, saw its shares fall by 11% after the numbers as investors choked on the cost of ongoing AI investments.

The UK’s CMA is to investigate whether customers were misled by Microsoft over subscription options and were paying more for products as a result. The CMA notes that MS gave existing customers access to new features at no extra cost but then began to charge for extra features unless they took the positive action to pick another plan or ended their subscription, the CMA said.

FINANCE & MARKETS:

The US Federal Reserve yesterday voted 9-3 to hold its key interest rate steady in a range between 3.5% and 3.75%. The three dissenting members believed that a rate rise was called for as inflation is currently running – and has been running for some five years – above the Fed’s 2% target. The decision to hold rates was the fifth time in a row that the Fed has taken no action.

The Bank of England will opine on interest rates at noon today. It is widely expected that rates will once again remain on hold.

The Bank has also updated on mortgage lending saying that the number of mortgage approvals rose to 58,200 for June compared with 56,600 in May.

Sterling mixed at €1.1651 and $1.3344. Oil up around $3 at $90.49. UK 10 year gilt yield up 8 basis points (and over 5% again) at 5.05%. World markets mixed to lower yesterday (with London hitting new highs) and London set to open down around 80 points as at 6.30am on quite hawkish Fed comments and as the US has launched further strikes on Iran.

RETAIL WITH NICK BUBB:

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