Top end trading slows in November
Pub industry experts are warning that following a sluggish November, the trading picture for December is likely to be badly affected by the current bad weather.
Reporting its monthly assessment of trading across 17 leading pub and restaurant groups, the Coffer Peach Business Tracker found that combined like-for-like sales in November were up only 0.4 per cent, compared with the same month in 2009, the slowest rate of growth since May this year.
Total sales in November were up 1.7 per cent, but month-on-month sales were down 5.5 per cent on October.
"November's figures weren't affected by the current severe snow and ice," said Peach Factory's Peter Martin. "That will undoubtedly impact adversely on December's figures. We would expect at least low double-digit falls in like-for-likes for the first two weeks of the month. On a cheerier note, Christmas is so far looking good for the market."
Mark Sheehan, managing director of Coffer Corporate Leisure, part of the Coffer Group, argued the current market was far from benign: "These numbers demonstrate tough trading as we head towards the key Christmas period."
Richard Hathaway, head of travel, leisure and tourism at KPMG added: "While the leading operators have managed another month of like-for-like growth, the outlook for the sector remains relatively challenging.
"Weather disruption this month, the VAT increase in January and the prospect of subdued consumer confidence in 2011 will all make trading tough, particularly outside of central London.
"It is likely therefore to be only those operators and brands that can beat the market that will see meaningful growth for a while."
