Pub and restaurant groups' like-for-like sales up by 0.2% on October, study says
Results rose by 2.6% as compared to the same month last year.
Britain’s pub and restaurant groups have gained a collective like-for-like sales growth of 0.2% in October, according to a report by Coffer Peach Business Tracker.
However, restaurant sales saw a decline of 1.4% whereas pubs and bars went up by 0.6%. London is reported to have a like-for-like sales growth of 2.5% while outside the capital saw a 0.5% increase.
Restaurant chains in the capital and outside London had a 0.9% increase and a 0.7% decrease respectively.
“People are still going out to eat and drink, but there is little or no growth in the market – and stronger London trading is making up for poorer sales outside the M25,” said Phil Tate, chief executive of business insight consultancy CGA, said.
“Restaurants saw volume sales, measured by covers, down 1.4% for the month – which is worrying, although spend has remained essentially static. But the really big problem for the sector, and restaurant brands in particular, is continuing fierce competition, added to the burden of increasing business costs that are squeezing both margins and profits.”
