BrewDog Bars has so far been 2.5% down over the course of 2024, according to CEO James Watt.

The BrewDog chief executive said that the two main sectors in which the business operates, craft beer and hospitality, had “very challenged” starts to the year. 

”Hospitality in the UK and beyond is really struggling as increased costs means prices have had to increase at a time when consumers incomes have been squeezed,” he said in an update, adding that the bar industry in the UK is down over 11% versus last year and 22% down last week alone.  

Watt described the performance as “not where we want to be”, but remained pleased that the bar business remained 10% of the wider industry. 

”Whilst our Q1 performance has been good, during these uncertain economic times, as a team we remain fully focussed on delivering the best possible beers and customers experiences we can whilst running our business as diligently as we can until the wider economic picture in the UK improves”, he said. 

The bar business looks towards new openings on the horizon with Denver opening next week, Columbus airport next month and Bangkok the month thereafter. 

Beer sales in UK grocery were also down on last year (-1%), whilst volumes were up 34%. Watt noted that the business was the fastest growing in the UK in its sector, in both value and volume and had overtaken Asahi as the 6th largest brewer. 

Specifically, Lost Lager was up 58% over the last 12 weeks and in 2024 Black Heart, the business’ stout brand’ was at 25% of Guinness Draught sales in Sainsbury’s and Morrisons. 

 

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