Propel Morning Briefing Mast HeadAccess Banner  
Propel Morning Briefing Mast Head Propel's LinkedIn LinkPaul's Twitter Link Paul's X Link

Accurise Banner
Morning Briefing for pub, restaurant and food wervice operators

Mon 14th Mar 2022 - Managed groups grow like-for-like sales by 3% in February on pre-covid levels but cost stresses mount
Managed groups grow like-for-like sales by 3% in February on pre-covid levels but cost stresses mount, restaurants enjoy strong month: The lifting of all covid-19 restrictions helped Britain’s managed restaurant, pub and bar groups to raise sales above pre-pandemic levels in February, according to the latest Coffer CGA Business Tracker – but high inflation continues to make real-terms growth elusive. The Tracker, produced by CGA in partnership with The Coffer Group and RSM, reveals groups’ like-for-like sales in February were 3% higher than in February 2019. This builds momentum from January, when comparative sales were 1% down, and a very challenging December 2021, when the Omicron variant pushed trading 11% below December 2019. Restaurants increased like-for-like sales by 9% in February, just outpacing the 7% growth for bars, which benefited from the scrapping of requirements for vaccination passes in late-night venues. Pubs had a tougher month, ending down 1% on the pre-covid-19 levels of February 2019. While the growth figures are encouraging, they are depressed by inflationary pressures. Recent editions of the Consumer Prices Index have shown that inflation is running at 5% to 6% over the last 12 months alone. Trading is also struggling to recover in London, the Tracker shows. Managed groups’ like-for-like sales inside the M25 in February were 4% below February 2019, compared with growth of 6% beyond the M25. Karl Chessell, director – hospitality operators and food, EMEA at CGA, said: “These figures show managed groups are building momentum after two years of turmoil. Delivery and late-night bars are particularly buoyant at the moment, and underlying demand for hospitality experiences remains strong. However, margins are being tightly squeezed by fast-rising costs, and the cost-of-living crisis is likely to dent consumer spending as the year goes on. Some businesses remain extremely vulnerable, and there’s a powerful case for government support on tax and other issues to help them fuel the UK’s post-covid-19 economic recovery.” David Coffer, chairman at The Coffer Group, added: “I am I sure we will all be watching the central London statistics very carefully over the next few months. Hopefully, the return of overseas tourists, which is so sorely missed, will have a marked and positive effect.”


Return to Archive Click Here to Return to the Archive Listing
 
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Premium
 
Tevalis Banner
 
Contract Furniture Group Banner
 
CACI Banner
 
Casual Dining Banner
 
Singa Oy Banner
 
Lactalis Banner
 
Santa Maria Banner
 
Tabology Banner
 
awrys Banner
 
Propel Banner
 
Tenzo Banner
 
HGEM Banner
 
Meaningful Vision Banner
 
Zonal Banner
 
Access Banner
 
Christie & Co Banner
 
Sideways Banner
 
Airship – Toggle Banner
 
Wireless Social Banner
 
Startle Banner
 
Deliverect Banner
 
awrys Banner
 
Growth Kitchen Banner
 
Zonal Banner
 
Tabology Banner