Pernod Ricard has announced what it is calling a robust performance in the first half of the 2024 financial year despite declines in its organic sales – a performance which the company is putting down to the normalisation of the spirits market following two years of outstanding growth.
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Britain’s leading managed pub, bar and restaurant groups enjoyed their best December trading in three years, the latest data from CGA has revealed. However, thanks to double digit inflation, sales remain well below pre-Covid levels in real terms, demonstrating the double pronged impact of the cost-of-living crisis and Covid recovery on UK businesses.
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The year 2022 certainly had its challenges, with businesses struggling to make ends meet amid a soaring cost-of-living – and trading – crisis. However, one business is celebrating a bumper festive period, with last month offering up the best December in the company’s 30-year history.
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The UK hospitality trade rode a wave of World Cup fever in November, when sales were above a still somewhat Covid-dampened environment at the end of 2021. However, with inflation biting hard and more disruption on the way over Christmas 2023, operators could be set for a challenging end-of-year run.
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Since Boutinot picked up Moreno Wines, the latter’s agile pairing of Hamish Robertson and Nick Groszek has driven impressive growth at this reinvigorated importer. Andrew Catchpole charts the change.
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Footfall across the hospitality sector is up on 2019 levels in Britain’s key cities, although high inflation and rail strikes remain major concerns.
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With his relaxed style and ample enthusiasm, Jay Wright certainly doesn’t fit the old stereotype of a wine trade CEO. As the boss of one of the more successful online retailers, though, he is clear about the vision and values that underpin the popularity of Virgin Wines. And much of that comes down to what he believes the company – and, by extension, the wider drinks trade – actually sells.
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Pernod Ricard has released its FY22 results, revealing a sales growth of 17% in 2022, totalling €10,701m – the first time the company has exceeded the €10 billion mark.
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Javier Pagés has been re-elected to the post of president of the Cava DO – a role he has pledged to use to continue to raise Cava’s status to one of “world’s highest quality sparkling wines”.
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Tequila is stealing a march on other spirits categories, with an impressive 94% growth spurt in two years underpinning the rise of the Mexican spirit in the UK.
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Out-of-home food and drink sales are in growth in all of Britain’s 10 biggest city centres, with higher spend-per-visit driving growth rather than footfall.
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Online retailer Naked Wines has lost nearly 40% of its market value after it admitted that lockdown-boosted sales and heightened customer acquisition is likely to see a significant drop in 2023.
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The latest financial results from English wine producer Gusbourne have reinforced the strong position of the category within the UK market.
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Inflation and price squeezes have impacted sales of FMCG products in the multiples over the past 12 weeks, including alcohol. However, in actual terms, alcohol is still a more profitable sector than pre-pandemic.
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Polonius: What do you read, my lord?
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Britain’s managed restaurant and pub groups’ delivery and takeaway sales remain more than double pre-Covid-19 levels – but trading has dipped year-on-year as consumers resume their out-of-home eating habits.
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Hospitality’s recovery from Covid remains “fragile”, new data has shown, as solid growth for Britain’s managed restaurant, pub and bar groups in March was dampened by high inflation.
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With sales exceeding all expectations, the drink for good times is back on top form, finds James Bayley.
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Last week’s out-of-home drinks sales were 7% up on pre-pandemic levels, CGA’s latest Drinks Recovery Tracker reveals.
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Viña Concha y Toro (CyT) has reached a ‘milestone’ in its sales career, with more than half of the company’s wine revenues stemming from higher-value products.
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