Trading still tough at Luminar
Cheap drinks deals at Luminar Leisure venues helped to "slightly" increase footfall in August but overall trading continues to be difficult, the late night operator has reported.
Drinks deals led to slight increase in footfall
The company trialled a number of discount formats at four nightclubs around the country to drive sales, including offering drinks for 80p and 90p. Chief executive Stephen Thomas recently said that the 90p offer in Wellingborough boosted the number of admissions on a Thursday night from 244 customers to more than 800.
“Sales during the summer period have continued to be difficult but footfall has strengthened slightly during the month of August as a result of trading initiatives,” it said.
Like-for-like sales fell 2.4% in the 74-strong total dancing division and rose 2.1% in the 48-strong branded dancing for the six months 28 August.
It said like-for-likes were affected by high comparatives last year and its rolling refit programme.
Luminar opened Oceana Watford last night and expects to open its final re-branded venue of the year by mid-November.
“Management actions to drive footfall are delivering and cost base initiatives are progressing well with the Group expecting to deliver cost savings in the remaining half of the year in excess of £2.5m,” a statement said.
“The contractions in the supply of the late night entertainment venues are strengthening Luminar’s competitive and financial position further.”
The group is trading in line with expectations but much will depend on its fourth quarter performance, it said.
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