By M&C Report team2006-11-19T09:28:00+00:00
CGA research indicates that 56% of consumers have returned to restaurants, pubs and bars since 19 July, although a continued focus on social distancing measures in venues is keeping sales below pre-Covid levels. In total, around three quarters (73%) of consumers have returned to the out-of-home market since venues could reopen in April.
MCA caught up with Ralph Findlay, chief executive of Marston’s, following the group’s Q3 trading update. He discussed the group’s increasing focus on premium pubs and the benefits of a technology upgrade. While describing the pingdemic as a “severe headache” and voicing concerns around VAT and price rises, he was nonetheless optimistic about the pub sector’s potential for recovery.
Marston’s Q3 trading update has been welcomed by analysts, with Shore Capital describing it as an “encouraging update”, while Singer described it as “highly pleasing.” With limited impact from either cost inflation and pingdemic related labour issues analysts either maintained or upgraded to a buy recommendation.
Originally announcing plans to go public as a standalone company in April, in the event it was a trade buyer that sealed the deal for Hawthorn.
Tokyo Industries CEO Aaron Mellor has described proposals for nightclubs to check vaccine passports as “impossible to enforce”.
Research shows the vast majority of young people aged 18-30 plan to responsibly return to late night leisure venues, with three quarters of respondents happy to adhere to government guidelines and measures. Yet, average spending could be 7% lower.
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