Category: Uncategorised
The UK Coffee Market: Independents vs. Incumbents
While other markets falter, coffee prospers In most evolving industries, at some point, the disruptive new entrant becomes the familiar incumbent. Langton was struck by this thought while noting the continued success of coffee operators around Spitalfields. The number of coffee outlets in the UK has almost trebled in the last six years to nearly…
London Hotels, implications for the wider leisure market:
Background: Staffed as we are by mean, northern accountants, price-gouging is anathema to Langton We prefer ELP but gouging is a feature subject to the following rule: you gouge when you can Ask RTN or any London hotelier where the market was in an upcycle until c-mid last year But now it’s not. It shouldn’t…
Next Q3 — Missing out on Millennials?
Conviviality takes another step into wholesale
Conviviality vs. Majestic: Beer, Wine, and the High Street’s decline We note that Conviviality has been busy since IPO’ing at 145p in September 2013. Now at c208p, via highs of just under 240p, with two significant acquisitions under its belt in the past year (Matthew Clarke for c£200m and, today, Bibendum for £60m). The Bargain…
Leisure sector growth: It’s getting harder out there
With a slew of weaker-than-expected US macro data coming out yesterday for March (Durable goods orders up 0.8% month-on-month from a steep drop in February; capital goods orders flat; consumer confidence slipping from 96.1 to 94.2), it might be a good time to contrast stock market optimism with the reality of underwhelming corporate data. Optimism…