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Restaurant trade begins to stabilise after summer sun struggle as like for likes rise by 1.4%

17 September 2018 by
Restaurant trade begins to stabilise after summer sun struggle as like for likes rise by 1.4%

The restaurant industry is starting to pick up once again after a troublesome two months of extreme hot weather led to dwindling sales, according to Coffer Peach Business Tracker analysis.

Collective like-for-likes at managed pubs, the main benefactors of the warm climate, rose by 0.2% against August last year. Meanwhile restaurants experienced a year-on-year uptick of 1.4%.

Karl Chessell, director at CGA, said mixed spells of rain along with parents looking to occupy their children during the summer holidays may have aided the industry.

He said: "These latest figures will come as a huge relief for restaurant operators, who have been under the cosh of late, not least because of the early summer heatwave which was great news for Britain's pubs as the public headed outdoors but little help for the country's restaurant chains.

"More mixed weather during August and a damp bank holiday weekend will have helped the casual dining market.

"The school holidays will have also helped as parents looked to keep their families occupied."

London was the big winner from the post summer pick-up in trade. August like for likes rose by 1.5%, while trading outside the M25 rose by just 4%.

David Coffer, chairman of the Coffer Group, said: "The summer tourist season and the continuing good weather appears to have given an uplift to trading levels for restaurants in London, especially those with external seating.

"This is also reflected in the increase of like-for-likes in restaurant groups. This may well be a deceptive improvement as the impact of possible political upheaval begins to gain momentum over the coming months.

"The reaction of the UK restaurant public could swing either way in terms of seeking solace in food and beverage venues.

"Generally, we are seeing a continuing demand for restaurants in good trading locations but a drop-in demand otherwise. Premiums for leases are certainly at a five year low."
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