CGA & RSM's UK Hospitality Business Tracker for March shows total sales +5.2% YoY, up from +1.4% in Feb & +0.1% in Jan

Pubs: +7.2%
Restaurants: +3.4%
Bars: -0.5%

Important to remember March was an outlier in the fact it included 5 weekends & Easter (2023 Easter was in April)

Foodservice analyst Peter Backman reveals the 8 largest delivery co's globally collectively incurred a net loss of -$7.5bn in 2023

Over the past decade, these co's have accumulated total losses of -$100bn to -$110bn

Timeline for profitability in the industry remains uncertain

City AM on Stonegate

Netflix (big competitor to hospitality, bumper Q1 numbers), 888 (Q1 update & name change), BrewDog (Lost Forest lost), Consumer Confidence (blip up in Q1), costs (headache), train strikes (ongoing) & other. Today's e/m & sign up free langtoncapital.co.uk

Dunelm comment on the consumer: Despite the boost from an earlier Easter, Dunelm note that “trading conditions have continued to be volatile with March in particular seeing softer levels of demand.”

ROO (Q1), RNK (Q3), Wagamama (dated FY numbers, RTN subsidiary), LGRS (site openings), March Tracker (Easter boost), Oxford Partnership comments (ditto), delivery (sluggish), inflation (less so) & other. Today's e/m & sign up free langtoncapital.co.uk

UK interest rate cuts hopes fade slightly. Inflation stickier than anticipated. Service inflation still 6% and, in a predominantly service-based economy, CPI will trend to that figure in the absence of productivity gains (which are not currently evident).

Just Eat & Entain (Q1 updates), Time Out (new market), Wasabi (figs at Co House), LVMH (Q1), TGI (view Stateside), Saga (FY numbers, Safestay (new site), CPI data (down but not out), interest rate concerns & other. Today's e/m & sign up free langtoncapital.co.uk

Dr Marten's. Those 2021 IPOs. Shares fall 32% today, now down to around 15% of their post-IPO levels.

Hostmore (proposed reverse takeover of TGI Fridays franchisor, no financial details), Chapel Down, Everyman, Team 17 (figures), BOWL (H1 update), DPP (result of placing), hotel market, trading performance & other. Today's e/m & sign up free langtoncapital.co.uk

Asahi says “zero- and low-alcohol drinks would generate half of the company’s beverage sales by as early as 2040.”

Trend towards more health-conscious consumers looks set to continue

Busaba Eathai & Meatailer (numbers at Co House), BrewDog (early '24 trading), Cook's Coffee (update, Asahi (low and no), demographics (they matter), festivals (they matter to some) & other. Today's e/m & sign up free langtoncapital.co.uk

Rate cut delays Stateside.

Revolution (shares back, sharp bounce), Pret (app-issues), Constellation Brands (figs), Carlsberg (Russia issues), labour costs (higher for longer), trading, GDP, food supply (wet weather & Brexit checks) & other. Today's e/m & sign up free langtoncapital.co.uk

Restructuring is the mot du jour. Nobody seems keen to say CVA any more.

Revolution Bars (share issue, bank loans, restructuring & H1 numbers), Domino's (completes purchase), Distil (March quarter update), airports, trading, the consumer, business rates, interest rates & other. Today's e/m & sign up free langtoncapital.co.uk

Stonegate (full year accounts, unaudited, losses etc), Tasty (restructuring plan, emergency loan, site exits, challenging trading etc), Portobello (buys Darwin & Wallace), demographics, consumer costs & other. Today's e/m & sign up free langtoncapital.co.uk

BRC-KPMG March Retail Sales +3.5% YoY, Easter uplift has been c2% in prior years, no comment on this year's impact

Food: +6.8%
Non-Food: -1.9%
Online Non-Food: -1.4%

Revolution Bars (Sky says making progress in re-fi), LGRS, Red Engine (debt facility), TUI (devoted to UK, despite quitting stock exchange), Barclaycard data (five-weekend month disappoints?), demographics (matter) & other. Today's e/m & sign up free langtoncapital.co.uk

RedCat (FY numbers, losses up), Comptoir (unit in Middle East), Starbucks (little tax), Vagabond (goes to Majestic), Disney (sharing crackdown), trading (tough), travel disruption (ongoing), food inflation (lower), jobs & other. Today's e/m & sign up free langtoncapital.co.uk