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Has anyone else noticed wholesale gas prices now below 100? When they were up at 650 not so long ago? Can’t see much reporting on this.
Any improvement in utility bills means more disposable income and more travel.
I know the current govt omni shambles might be hogging the news.
Having been in their pub in Holborn on Saturday it was packed and also listed as up for sale! I do wonder if Tim is trying to renegotiate the lease. There is another Spoons nearby so maybe that is another reason.
On the warm beer front, real ale is supposed to be served around 12-14C as you get the full flavour that it has. Lager etc don’t have this depth as the beer is filtered before being packed up - drinking it cold is refreshing but if it warms up it is pretty tasteless imo. It’s the real ale that keeps me returning, on the app I can search for something specific or new as there are many Spoons near me.
The board member who bought 50k doesn’t agree!
Jtan, this madness is macro, even the US are now selling off bonds today (not Truss’s fault surely). I also hold JD Sports, their balance sheet is very healthy, very low debt, and they still got hammered today too. No share is immune except defence and energy.
UK debt-to-gdp ratio is still 2nd lowest in the G7, they are in no way an exceptional case.
Some positive news amongst all the turmoil, raises target to 205 from 180, keeps as a buy.
Of course the drop in the pound may have helped with overseas sales but still :-)
Not much good news anywhere today.
Interesting article, still think they’ll be plenty of Spoons customers in a downturn but this presents those seeking more premium (more expensive) beers as well https://www.thedrinksbusiness.com/2022/09/people-to-choose-spend-more-on-premium-drinks-during-recessions/
As debt and leverage is higher now than in 2008 lower interest rate increases should have a larger effect on inflation? We’ll know soon enough!
Surprising that no RNSs of late declaring a change in holding.
I’d be amazed if this was a national scheme. Managers certainly have latitude in individual pubs to push certain items occasionally. I remember seeing a “managers special” on fish and chips a few times pre-covid (them were the days :-). Occasional promotions help manage specific locale issues but mustn’t be overdone. Can’t imagine Tim losing control of his business model like that.
A US buyout of a company like NEX with a large amount of US revenue, when the dollar is very strong, must be too much of a temptation surely.
AFAIK the trading update stated that margin was lower than pre pandemic and would take longer to recover than first anticipated. In these times it only takes one statement like this and any positives are ignored. Lower margins are obviously a negative but this does seem like an overreaction, if anything, the cost of living/energy crisis should play in their favour as people still have to travel and trains/cars are costing way more now.