By M&C Report team2004-12-19T08:06:00+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.
Individual Restaurants has announced it is to close four sites within its 28-strong estate.
Boparan Restaurant Group’s new Restaurant Hub concept will look to capitalise on the residential delivery catchment of its Sainsbury’s location, and make its brands more part of customers’ everyday lives, MD Satnam Leihal has told MCA.
Five Guys, Taco Bell, and Pollo To Go have been signed up for Xscape Yorkshire in Castleford, Landsec’s leisure and entertainment destination.
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