Rising consumer confidence about safety and the easing of COVID-19 restrictions helped Britain’s managed pub, bar, and restaurant groups to a modest increase in sales in January, according to the Coffer CGA Business Tracker.
The latest edition of the Tracker, produced by CGA in partnership with The Coffer Group and RSM, shows groups’ total sales in the first month of 2022 were 3% higher than in January 2019. It represents a solid recovery from December, when heavy COVID-19 measures were in place and sales fell 11% below the levels of 2019.
Restaurants were the strongest performing segment of the market in January, recording 4% growth on January 2019, while pubs were up 2%. However, bars saw sales slip 3%, as the requirement for vaccination passes and lingering concerns about crowded venues dented late-night visits.
Paul Newman, head of leisure and hospitality at RSM, said: “January’s bounce back after the disappointment of December sees the sector make an encouraging start to the new financial year. With trading restrictions finally lifted and the Omicron variant easing, customer footfall numbers and card spending are getting stronger week by week. The sector is not without its challenges as COVID-19 reliefs begin to fall away but there is a strong sense of optimism among many operators, particularly around the return of office workers and tourists to city centres. We expect to see further consolidation in the sector over the coming months, led by a number of well capitalised larger groups looking to grow their estates and take advantage of the resurgence of demand in the pub and casual dining sectors.”
CGA collected sales figures directly from 60 leading companies for the January edition of the Coffer CGA Business Tracker.