Consumer spending in pubs and restaurants up 1% in July
Consumer spending in pubs and restaurants grew by 1% in July according to the latest Coffer Peach tracker.
Total sales, which include the effect of new openings, were up by 3.1% on the same time last year.
The Coffer Peach tracker measures sales performance of 23 major pub and restaurant companies.
Peter Martin of Peach Factory, the market consultancy that produces the sector Tracker in partnership with KPMG, UBS and the Coffer Group, said: "This is encouraging news for operators. Like-for-like sales saw a healthy 3.9% leap in June largely because of the dampening effect of the previous year's football World Cup, but to see continued growth in July, when the weather was not particularly helpful, shows that the leading chains are working hard getting their consumer offer right,"
"But operators will not be complacent. Last week's city riots will have hit trade badly for many, and they will be concerned about the long-term effect on confidence and the willingness of people to continue to go out, particularly in urban areas," he added.
The data also showed that pub and restaurant chains continued to outperform the retail sector. According to the British Retail Consortium / KPMG Retail Sales Monitor like-for-like retail sales were up just 0.6% in July.
Trevor Watson, director at Davis Coffer Lyons, part of the Coffer Group, said: "The rioting will have led to a short term impact on sales, however the continued global financial uncertainty is a more serious threat to consumer confidence in the medium term. There is no room for complacency - operators need to continue to work hard to win their share of consumer spending."
Restaurants continue to outperform retail sector in June >>
Restaurants and pubs see strong April thanks to school holidays >>
Pubs and restaurants shrug off VAT rise as February sales climb >>
By Neil Gerrard
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