Restaurant chains recover after what CGA calls a “poor summer” in 2018.
Britain’s pub and restaurant groups saw collective like-for-like sales up by 1.2% in July compared to the same time last year, latest figures from the CGA’s Coffer Peach Business Tracker reveal.
Restaurant groups saw like-for-like sales up 3.8% against last July, when trading was hit by hot weather and World Cup football. Managed pubs saw sales slip back this July, but only to -0.2%.
“Considering the barnstorming July that pubs had last year, holding relatively steady this July will be seen as a good performance, and restaurant groups will be more than relieved with their sales recovery,” CGA director Karl Chessell explained. “Following a good showing in June when collective like-for-likes across the sector grew 1.4%, the eating and drinking-out market is showing some resilience. Nevertheless, with Brexit looming, there will be real nervousness about a crash in autumn.”
Trevor Watson, executive director, valuations at Davis Coffer Lyons added: “Decent weather in 2019 as well has no doubt helped sustain performance on the wet-led side. We continue to see very good results from quality operators with good demand for new sites across the country from both established and emerging operators across both sectors.”
Regionally, trading outside of the M25 was slightly better than in London, up 1.3% compared to last year. Restaurants had a better time outside of London, up 4.3% against 2.4%, whilst pubs held up better in London, with like-for-like growth of 0.1% against a 0.3% decline outside.
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