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London leisure spend lagging provinces, says Coffer Peach Tracker

Wed, 17th Feb 2016 08:51

(ShareCast News) - Trading at the UK's largest restaurant food-led pub chains saw an encouraging uplift last month, despite London falling behind its provincial cousins and casual dining outperforming pubs and bars in 'dry January'.Like-like-sales for January for the 31 companies monitored in the Coffer Peach Tracker were up 1.9%, with total sales including new openings up 5.4%.The Peach Tracker, which collects sales figures from chains owned by companies including Mitchells & Butlers, Whitbread, Casual Dining Group, The Restaurant Group, Marston's, Fuller's, Young's and Greene King's Spirit Pubs, showed a long-term trend of a 1.8% LFL increase for the 12-month period to the end of January 2016 against the previous 12-month period.But for January alone, LFL sales outside of the M25 up 2.4% on the same month in 2015, while London sales were essentially flat, registering just a 0.4% increase."January is a slow trading month, so not too much should be read into these figures, but the sector will be pleased to have started what looks like being a challenging year on a positive note," said Peter Martin, vice president of CGA Peach, noting a similar pattern the year before.He added: "Generally, casual dining brands also out-performed pubs and bars, with January like-for-likes up 3.6% nationally and 4.7% outside of London. The capital was a tougher trading environment for all in January."CGA Peach produces the Tracker in partnership with Coffer Group, RSM and UBS.David Coffer said the superiority of sales outside London were no surprise and confirms the trend of expansion away from an ever more expensive London market - in terms of property acquisition, and indeed consumer prices."This trend is expected to continue. The very high cost of London living is seeing the boundaries of Greater London extend to the provinces with many now commuting on a daily basis from provincial cities. This trend will also continue and further enhance trade outside of London."UBS noted the improving performance of multi-site operators away from London, with the 12-month moving LFL average inside the M25 fell to 1.1% from 1.3% in December, while outside the M25 it rose to 1.3% from 1.2% in December.

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(Sharecast News) - The hot summer spell and football World Cup boosted sales at Greene King in the first 18 weeks of the year as Brits inhaled 3.7m pints of beer during England's seven matches.

3 Sep 2018 12:39

Pubs sector 'in a precarious state' - Citi

(Sharecast News) - Many pub companies are in a "precarious state", Citi warned on Monday, as they have too much leverage and little surplus cash flow to bail themselves out as the increasingly indebted UK heads for a potential disorderly Brexit.

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16 Mar 2018 06:48

EUROPE RESEARCH ROUNDUP -BBA Aviation, Flughafen Zuerich, Greene King

March 16 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including BBA Aviation, Flughafen Zuerich and Greene King, on Friday. HIGHLIGHTS * :

16 Feb 2017 10:33

Spending on eating out remains resilient as inflation crunch looms

(ShareCast News) - In the normally quiet month for the pubs and restaurant sector, sales data for January was positive overall and showed casual dining chains enjoying a continued recovery. Industry like-for-like sales grew 1.9% in January 2017 compared to 2016, according to the Coffer Peach Busi

13 Feb 2017 09:29

BROKER RATINGS SUMMARY: Morgan Stanley Raises AB Foods To Overweight

10 Feb 2017 16:40

FTSE 250 movers: Elementis gains, Just Eat tanks

(ShareCast News) - The FTSE 250 closed up 0.47% to 18,715.36 points. Elementis was a top riser as it entered into an agreement to acquire specialty chemicals platform SummitReheis from an affiliate of One Rock Capital Partners for an enterprise value of $360m. SummitReheis - which is expected to re

10 Feb 2017 10:35

Friday broker round-up

(ShareCast News) - British American Tobacco: Berenberg upgrades to Buy with a target price of 5670p. Smith & Nephew: Jefferies reiterates Buy with a target price of 1350p. BT Group: UBS maintains Neutral with a target price of 325p. Ashmore Group: UBS maintains Buy with a target price of 390p. Da

10 Feb 2017 09:25

BROKER RATINGS SUMMARY: Berenberg Upgrades BAT To Buy From Hold

10 Feb 2017 09:21

Greene King's shares fall as Canaccord cuts target price, lowers guidance

(ShareCast News) - Greene King's shares fell on Friday as Canaccord Genuity reiterated a 'buy' rating but cut the target price to 850p from 900p and lowered its earnings guidance. The pub operator reported strong trading over the Christmas period on Friday as it sounded a confident note on its outlo

10 Feb 2017 07:47

London pre-open: Stocks set to track advance on Wall Street

(ShareCast News) - Shares were expected to start the session higher, tracking a record close overnight on Wall Street and on the heels of better than expected Chinese trade data. As of 0721 GMT the Footsie was being called to start the day higher by 23 points to 7,252. In parallel, the Shanghai Sto

10 Feb 2017 07:16

Greene King reports strong Christmas trading

(ShareCast News) - Pub group Greene King reported strong trading over the Christmas period on Friday as it sounded a confident note on its outlook. In the 40 weeks to 5 February, like-for-like sales grew 1.1%. Excluding Fayre & Square, LFL sales were up 1.6% over the period. Over the last 16 weeks,

9 Feb 2017 13:00

Friday preview: Greene King to report strong third quarter trading update

(ShareCast News) - Pub operator Greene King is expected to report a robust third quarter trading update on Friday during a strong performance across the rest of the sector. Numis anticipates the company will report a small recovery in Christmas trading, in line with the sector, but believes the pres

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London leisure spend lagging provinces, says Coffer Peach Tracker

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