Rail strikes fail to derail Christmas sales for UK pub group Marston's (updated)
24/01/2023 08:20
(Adds City Pub Group sales, background)
Jan 24 (Reuters) - British pub group Marston's on
Tuesday posted year-end holiday sales above pre-pandemic levels,
as its larger presence in the regional centres shielded it from
the impact of train strikes that weighed on city-focused
hospitality businesses.
Marston's, which has over 1,500 pubs and bars across
Britain, has its business characterised by local community pubs,
with only less than 10% of its estate located in city centres.
The sector's hopes of robust sales in the first year-end
holidays in three years devoid of restrictions were jolted by
nationwide rail strikes, which curbed customer visits at
city-based firms.
Marston's, however, rode on the strength of its local
community pubs, logging in 4.5% like-for-like sales growth for
the 16 weeks to Jan. 21, compared with the corresponding period
in the pre-pandemic 2020 fiscal.
For the five key festive days, including Christmas Day and
New Year's Day, like-for-like sales climbed 12.9% versus the
holiday period three years ago.
Meanwhile, City Pub Group — the owner and operator of 44
pubs across Southern England and Wales — said on Tuesday its
fourth-quarter like-for-like sales growth was 7.8% compared with
2019, and that its performance would have been even better had
it not been for the rail strikes.
Fuller Smith & Turner FSTA.L on Monday warned that it
expected annual earnings to be below market expectations after
the train strikes dented its holiday sales.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Dhanya Ann Thoppil and Uttaresh.V)
((abyjose.koilparambil@thomsonreuters.com; +919986528692))