World Cup hits sales at pub operator Mitchells & Butlers
The World Cup proved to be a drag on sales for pub operator Mitchells & Butlers.
In an interim management statement, the company said like-for-like sales had increased 1.6% in the first 42 weeks of its financial year, with total sales up 2.1%.
Like-for-like sales in the most recent nine weeks were up 1.2% but the month of the World Cup saw food sales dip, resulting in a drop in overall like-for-like sales of 2% over the course of the competition.
Like-for-like food sales were up 3.9% for the first 42 weeks, while drink was up just 0.4%.
Earlier this month, M&B announced that it was selling 52 of its lodges to hotel chain Travelodge, generating proceeds of £91m.
The firm said there continued to be "uncertainty in the outlook for discretionary expenditure and associated pressure on the UK's eating and drinking out market" but that its core brands had generated increased sales and profitability.
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By Neil Gerrard
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