UK pub operator Mitchells sales top pre-pandemic level on pent-up demand (updated)
23/09/2021 07:33
(Adds details, CEO quote, sector update)
Sept 23 (Reuters) - Britain's Mitchells & Butlers Plc
MAB.L said on Thursday sales over the past two months have
been above pre-pandemic levels, as customers thronged to its
hundreds of pubs and restaurants after months-long restrictions.
The more than a century old pub operator's sales in the most
recent eight weeks were 104% of pre-COVID-19 levels, supported
by pent-up demand, while year-to-date sales were at 45% of 2019
levels.
Mitchells, which has 1,700 pubs and restaurants and owns
many brands including Harvester, Toby Carvery and All Bar One,
had said that sales in city centres continued to suffer as
people were yet to return to the offices in full swing.
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"We are still seeing volatility and a contrast between sales
performance at food led and wet led brands, highlighting the
continuing uncertainty," said Chief Executive Officer Phil Urban
said.
Smaller rivals Fuller Smith & Turner Plc FSTA.L and City
Pub Group Plc CPC.L also pointed to improving trends after a
turbulent period for the hospitality industry, as the pandemic
shuttered venues for prolonged periods. urn:newsml:reuters.com:*:nRSW6858Ma
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(Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich)
((muvija.m@tr.com; within UK: +44 20 7542 1810, outside UK: +91
80 61822698; Twitter: https://twitter.com/muvija_m;))