Consumer confidence, late night market, Nero, Campari, Accor & other:

A DAY IN THE LIFE:

I popped out for ten minutes with the dog yesterday around 2.50pm and was assailed by the worst weather we’ve had in Yorkshire since Storm Eowyn blew down a few of our trees and cut off us power.

When I left the house, it’s fair to say the wind was picking up but there wasn’t much warning that, before I’d left the drive, rainwater would be ceaselessly hurled into my face, the gap between my coat and my wellies would be sodden, it would be blowing a gale and water would be pouring from the finger-ends of my gloves.

And then the dog looked at me as though I’d personally let her down and the leafless trees in the woods were no use, there was no cover.

This I almost straight away gave up as a bad job and getting home less than a quarter of an hour after having left, the bit of concrete that abuts our house, which we laughingly call the patio, was underwater, the leaf-clogged drainpipes where spurting inches high and the porch was leaking like a sieve.

And then the sun was shining within minutes but once drenched, twice shy and the dog was having none of it, she was fast asleep.

Anyway, misery loves company and, if there’s anything worse than waiting in a queue behind every school, hospital, nursing home and OAP’s bungalow in the shire to get your power put back on, it’s being the only one affected. Believe me that’s a lonely place to be and what storm Eowyn did to us - Eowyn.

On to the news:

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PUBS & RESTAURANTS:

Consumer confidence:

GfK has reported that consumer confidence rose by two points on its measure in February. The company reports that there is ‘optimism on personal finances’ but it points out that ‘views on the economy are lower than a year ago…’

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Late night market:

CEO of the NTIA Michael Kill has criticised the Government’s Arts Everywhere Fund for failing to support all venues. He says ‘once again, the government has placed traditional and heritage culture at the forefront while completely ignoring the vital creative spaces that fuel innovation, inspire younger generations, and contribute significantly to our economy….’

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Brewery numbers:

The Society of Independent Brewers has reported that the ‘UK now has 100 fewer breweries than a year ago despite strong demand for independent beer.’ SIBA says net brewery numbers fell in each of last year’s four quarters…

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Other news:

Rural challenges. Pub is The Hub chief executive John Longden says that ‘publicans and their pubs can be the solution to many of the problems faced in rural areas…’

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Begbies Traynor Group which, as it provides restructuring services to clients can be seen in some ways as a marker for corporate distress, yesterday updated on Q3 trading…

COMPANY NEWS:

The Nero Group, which owns the Caffe Nero and 200 Degrees chains of coffee shops in a number of countries, has updated on results for its year to end-May 2024 saying that the numbers were ‘strong’ and that the company had turned in ‘a record performance in the first eight months of FY25….’

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Campari has announced that it is taking some ‘tough decisions’ with regard to an organisational restructuring. The company is reported in the Italian press to be cutting up to 10% of its workforce, or 500 roles…

Swingers is to leave its original site in the City of London after nine years on 22 March. The building is to be demolished.

Shake Shack in the US has announced Q4 and full year numbers saying that Q4 revenue was $328.7 million, up 14.8% versus 2023. System-wide sales were $500.7 million, up 13.3% versus 2023. The group says that ‘same-Shack sales up 4.3% versus 2023…’

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Texas Roadhouse in the US has reported Q4 and full year numbers saying that total revenue for the quarter rose 23.5% with full year revenue up 16.0% to $5.37bn. The company reports same store sales up 7.7% at company restaurants and up 6.3% at domestic franchise restaurants…

HOLIDAYS & LEISURE TRAVEL:

Accor has reported Q4 and full year numbers saying that full-year 2024 REVPAR rose by 5.7 per cent year on year. Revenue was up by 11% at €5.6 billion. EBITDA was €1.1 billion for the year, up 12 per cent on 2023.

OTA eDreams Odigeo has reported profits up 40% in the first nine months of its current financial year. The company says ‘this has been an exceptional quarter’ and adds ‘this outstanding performance leaves us set to achieve our long-term targets by the end of March 2025. ‘

OTHER LEISURE:

Creative control of the James Bond franchise has been handed to Amazon MGM Studios.

FINANCE & MARKETS:

The CBI has updated on manufacturing output saying this ‘fell in the quarter to February, at a broadly similar pace to the three months to January.’ The CBI’s latest monthly Industrial Trends Survey adds that ‘looking ahead, manufacturers are more optimistic, expecting a modest rise in volumes in the three months to May….’

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Sterling mixed at $1.2657 and €1.2066. Oil higher at $76.37. UK 10 year gilt yield up 10 basis points at 4.61%. World markets mostly lower yesterday and London set to open around 5 points lower as at 6.30am.

RETAIL WITH NICK BUBB:

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