29 Jul 2015 07:36
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Don't have an account? Click here to register.'Casual dining' restaurants suffer but pubs bubble up, Coffer Peach finds
Thu, 16th Jun 2016 08:10
(ShareCast News) - Trading at larger UK pubs and restaurant groups slowed even further in May, with like-for-like sales down 1.4% year-on-year as a hefty decline at casual dining chains outweighed a small improvement for pubs. These findings from the Coffer Peach Business Trackers were the biggest one-month decrease in well over two years and showed the sector has founding it increasingly tough in recent months, with sales worsening from the 0.8% decline seen in April after a small rise in March and a flat February. Casual dining chains suffered a 5.6% fall in like-for-like sales compared to last May, while pub groups actually saw a 1.0% increase driven mainly by drink-led outlets which were up 4.5%."It was definitely a tale of two markets last month," said Peter Martin, vice president of CGA Peach, the consultancy that produces the tracker, in partnership with Coffer Group, RSM and UBS.Total sales for the month were up 2.2% among the 31 companies surveyed in the report on 2015, reflecting the fact that these groups are still opening new sites, though at a slower rate than previously.Martin added that the later school half-term break, which this year fell in June against May last year, appeared to have been a major factor - "demonstrating how important the family market still is to the sector".Paul Newman, head of leisure and hospitality at RSM, said: "Making long-term predictions on the back of short-term statistics is always a dangerous game. However, a 1.4% LFL decline in sales represents the biggest one-month decrease in well over two years and is clearly a worrying sign for operators and investors in the sector.Newman said the company's conversations with operators are now shifting in focus "from estate growth and rollout to driving gross margins and controlling cost inflation with major concerns around rent reviews, the NLW and next year's rating revaluation".Coffer's Mark Sheehan said the impact from declining consumer confidence was undeniable, worsened by the impending EU referendum next week."With each of the home nations represented in Euro 2016, excepting Scotland, we hope to see an upturn in next month's data, but overall, restaurant operators are undeniably struggling while pub companies are experiencing strong like-for-like growth," he added.
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16 Jul 2015 09:18
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Greene King full-year in line but organic growth lacklustre, says Nomura
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London open: FTSE rebounds after sell-off as Greece defaults
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London pre-open: Stocks to bounce despite Greek default on IMF loan
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UPDATE 1-British brewer Greene King's full-year profit beats expectations
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Read more1 Jul 2015 07:07
Greene King posts record retail revenue but full-year pre-tax profit drops
Pub group Greene King reported record retail revenue in its full-year results, although profit fell on the back of lower like-for-like sales and the impact of the disposal of 275 pubs to Hawthorn Leisure. Retail revenue for the 52 weeks to 3 May 2015 came in at £1bn, up from £963m last year, while t
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