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August completes ‘modest summer’ for hospitality groups as sales rise 1.3%

  • James McAllister
  • 19 September 2024
  • 2 minute read
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This article was written by Restaurant Online Magazine. Click here to read the original article

image

Groups have now achieved like-for-like increases in every month of 2024 except April.

However, it is a second successive month of below-inflation growth, and the Tracker has topped 4% only once since the start of the year. Total sales growth in August, including new venues opened during the last 12 months, stood at 3.7%.

“August’s figures complete a modest summer for hospitality groups, and with the weather and consumers’ confidence both underwhelming, real-terms growth has been elusive,” says Karl Chessell, director – hospitality operators and food, EMEA at CGA by NIQ.

The Tracker — produced by CGA by NIQ in partnership with RSM UK — shows managed pubs outperformed the sector as a whole in August, with year-on-year growth of 2.9% despite disappointing weather.

Restaurants recorded a 0.8% increase, but bars continued a long run of negative numbers with a drop of 9.0%. The on-the-go segment achieved 5.0% growth.

Sales rose by 1.2% inside the M25 in August, while venues further afield fractionally outperformed with 1.4% growth. It is only the second time this year that the capital has recorded weaker figures than the rest of the country.

“After a lacklustre summer, the hospitality sector will be hoping for further government support in the Autumn Budget, including business rates reform, a reduction in VAT to bring the sector in line with our European counterparts and a fall in employer national insurance contributions to help operators cope with increases in wages,” says Saxon Moseley, head of leisure and hospitality at RSM UK.

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“All these things can help reduce the cost burden on hospitality and, crucially, stimulate sales growth. However, a ‘painful’ Budget could dent consumer confidence and with it, discretionary spending and business investment which would hold back any recovery and apply more pressure ahead of the all-important festive trading season.”

Please click here to access the full original article.

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