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Fri 10th Jan 2014 - Breaking News - Peach and Davy's report strong December l-f-ls
Peach reports 7.1% like-for-likes: Peach Pub Company, led by co-founders Hamish Stoddart and Lee Cash, has reported 7.1% like-for-like growth in December and a £600,000 record-breaking week in its last full trading week before Christmas (16-22 December), boosted by several star pub performances. Stoddart said: “Eleven years in we’re still going forward every year, with another great year under our belts in 2013 and everything to play for in 2014. The majority of our pubs were at 10% like-for-likes in December, although we got battered in a couple. At the grand old age of 11, we’re classed as a mature company and we’re proud to have achieved like-for-like growth and profit every single year since we started. Outside of London, in market towns, where many of our pubs are, it’s been brutally hard and yet we finished on plan for the year with a strong second half. Operators think it’s easy to run pubs in market towns and therefore they’re coming into them, but the reality is it’s a pretty tough and competitive place. There aren’t many people in our market towns who’ve had pay rises and who can afford to eat out as regularly as before. So our success comes from the fact we continue to beat the competition in getting more guests to return to us and use us in a limited market.” Among the Peach star performers were the Fishes in North Hinksey, Oxford, which was up 25% in December, and the Rose and Crown in Warwick, the company’s original pub, which had its biggest week ever in December at £50,000 from a small pub. Peach said the company was managing bookings and parties more effectively than ever. “New pubs in the Peach fold are also doing well,” Stoddart said. “The Chequers in Eversley Cross, Hampshire had a sterling year and is a good example of what we can do in partnership with pubcos and property owners and we’ll be sharing the results of that success through our turnover rent with Spirit. We also work with Spirit at the Old Mill in Berkhamsted and that pub did a 21% increase last year after we invested in a major refurbishment of its canal-side site. Christmas was done just a little better again through more control on-line and a concerted push from the autumn onwards. We’re in good shape for 2014, with one opening lined up as well as two major refurbishments as we invest in developing our own places. We’re also looking for one or two more new sites this year, as well as more talented people and partners to join us.”
 
Davy’s reports 18% festive like-for-likes: Davy’s Wine Bars has reported an exceptional trading performance over the Christmas period, with a 18% increase in like-for-like sales for the four weeks to December 28. The company said Davy’s Premier Cru loyalty cards played a "significant" part in being able to reach customers with targeted messages and offers, as well as reward their loyalty. Chairman James Davy said: “We are delighted with our strong Christmas trading performance. We experienced record sales in a number of our wine bars, including Covent Garden, Canary Wharf, Greenwich, London Bridge and St Paul’s, as well as significantly growing the number of New Year's Eve parties we hosted. We are looking forward to 2014 as a year of continued growth for the company.”
 


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