Business confidence, staffing, WFH, coffee, Pernod, LGRS, MAG & other:

A DAY IN THE LIFE:

Well, as this week started, we speculated that it could be amongst the quietest of the year.

And we weren’t wrong because, though we did caveat that there could be three bids, a boardroom coup and an accounting scandal, none of that actually happened and, though the Mighty Hull City did manage two wins in the seven days since, it has been millpond still.

And, with a three-day weekend to come, perhaps that’s not surprising.

Unfortunately, September starts next week and, though it’s admittedly a short one, it’ll be back to work for most.

In the meantime, have a good weekend, good luck to Hull tomorrow at Coventry and, before the corporate silence deepens any further, let’s move on to the news:

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PUBS & RESTAURANTS:

Sector confidence:

A survey undertaken on behalf of the BBPA, the BII, UKH and Hospitality Ulster has found that hospitality confidence in the Government has more than doubled in recent weeks. The uptick in confidence follows Labour’s pledge to cut business rates for the industry. Confidence has risen from 18% to 37% in what the trade bodies call a ‘Burnham Bounce’…

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Wider business confidence:

Lloyds Bank has updated on consumer confidence saying that its index had risen by 4 points in August to +53%, above its average +47% over ⁠the past 12 months. it says that ‘overall, businesses are reporting stronger customer demand, greater optimism about the wider economy and growing confidence in their own trading outlook, all of which will be helping to support investment and growth plans…’

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Younger consumers:

The ONS has reported that the number of younger people not in education, employment or training (known as NEETs) fell below 1 million in the latest three-month period. The number, at 981k, is still up on last year but it is down on the 1.012m recorded for the January to March period….

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Other news:

WFH: This has been out of the news for some time but The Times today reports that younger people are losing some interpersonal skills, partly as a result of increasingly working from home….

In the US, reports suggest that consumers are spending more on beef, where prices have risen by 25% since 2023, but volumes are down. Numerator says that beef prices have risen four times faster than prices for poultry or pork products….

The World Coffee Portal has produced consumer insight it its Coffee At Work Report UK 2026 saying that some 56% of respondents to its survey were satisfied with the coffee provision at work but some 62% would (or say they would) pay more for barista quality coffee in the workplace. It also reports that 70% of respondents believe that ‘better quality coffee has a positive impact on their workplace performance.’

The Food Standards Agency and National Food Crime Unit officers attended an address in Essex on Thursday 20 August, supported by the Metropolitan Police Service who arrested a 34 year old man ‘on suspicion of fraud by false representation, linked to the supply of suspected counterfeit wine….’

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COMPANY NEWS:

Spirits company Pernod Ricard has reported full year numbers to end-June saying that organic sales fell by 3.9% to €9.4 billion, slightly below analysts’ predictions. The company has been coping with weak demand in the US and China and disruption to tourism caused by conflict in the Middle East. The company now says that organic net sales growth should average near the lower end of its previously forecast range of 3% to 6% between 2027 and 2029….

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Punch Pubs reports that its ‘Bay Horse Inn pub in Pickering has reopened its doors following a major £400k investment.

Loungers chair Alex Reilley writes on Linked In ‘twenty-four years ago today we opened the doors on our first ever Lounge on a £30k investment, a £20k bank loan, & having put things like glassware, cutlery, & crockery on our credit cards….’

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Wendy’s shares yesterday fell on reports that investor Nelson Peltz and his Trian Fund Management company are not going to bid for Wendy’s right now. The investors have no current plans to buy Wendy’s and take it private, according to sources speaking with Reuters.

HOLIDAYS & LEISURE TRAVEL:

Manchester Airports Group has told customers that it has been targeted in a cyber attack and their data has been stolen. MAG tells customers (such as Langton Capital) its ‘investigation has identified that some of your personal information relating to airport car parking, lounge, Fast Track bookings and on-airport WIFI sign-ups has been accessed by an unauthorised third party….’

Australia-based Flight Centre Travel Group reports that it achieved record levels of total transaction value and revenue in its last financial year despite ‘headwinds’ relating to the US and Israeli attacks on Iran and the subsequent political uncertainty.

CoStar reports that the U.S. hotel industry ‘reported a 19th consecutive week of positive year-over-year comparisons’ in the week to 22 August. This period encompasses the World Cup and trading either side of it…

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Uber has published the offer document relating to its takeover offer for Delivery Hero. It says that the ‘Management Board and Supervisory Board of Delivery Hero [are] expected to publish their joint reasoned statement in due course and to support the Offer.’

OTHER LEISURE:

PureGym has reported H1 numbers to end-June saying that it has had an ‘excellent first half performance with significant increase in profitability. EBITDA is up in all markets ‘most notably in the USA following continued good progress on the integration of Blink Fitness.’ Revenue increased 6% to £393.0m ‘driven by estate expansion, continued growth of the member base, which increased to 2.4 million across the Group, and a 2.1% uplift in average revenue per member to £26.78….’

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Meta. Work & pensions secretary Pat McFadden has said that the UK government expects the Meta to extend the same protections for children in Britain as those it agreed in the US. HE says he does not want young people in the US to have ‘a higher rate of protection’ than those in the UK. He does not comment on whether the UK government will pursue the company for damages similar to those set to be recovered by the litigant states in the USA.

National Lottery operator Allwyn UK, which is owned by Czech billionaire Karel Komárek, has said that UK sales fell 14% in Q2 this year with revenue of €914m, compared with €1.1bn a year earlier. Money going to good causes was down by 22% at £377.2m, the lowest quarterly contribution in eight years….

Everyman Media Group has announced the appointment of Joe Lewis to the Board as Non-Executive Director, effective from 28 August 2026. It also updates on its delisting consultation saying that it ‘continues to engage with stakeholders regarding the potential cancellation of trading in the Company’s ordinary shares on AIM’ and adds that a ‘further announcement in relation to a Delisting is expected to be made in due course.’

UEFA is reported set to make a criminal complaint against Gianni Infantino for alleged ‘criminal mismanagement’ in his failed attempt to sell a stake in FIFA competitions to outside shareholders. UEFA has withdrawn its threat not to take part in competitions going forward.

FINANCE & MARKETS:

Sterling up a little at €1.1667 and $1.3587. Oil higher at $89.31. UK 10 year gilt yield up 4 basis points at 5.07%. World markets mostly up yesterday & London set to open around 20 points better as at 6.30am.

RETAIL WITH NICK BUBB:

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