Restaurant groups see 'solid' September sales growth
The figure was more than double the rate of LFL sales growth recorded by managed pub groups over the month, which stood at 1.5%.
Overall, Britain’s managed operators recorded year-on-year sales growth of 1.7% in September, according to the Tracker, marking the first time in three months that industry growth has matched the inflationary rate.
Total sales growth in September, including new venues opened during the last 12 months, was 3.7%.
“September’s results continue the recent trend of steady but unremarkable growth for the sector, with consumer confidence and spending spooked by the government’s talk of 'tough' decisions to come in this month’s Autumn Budget,” says Saxon Moseley, head of leisure and hospitality at RSM UK.
As was the case in August, the Tracker — produced by CGA by NIQ in partnership with RSM UK — shows trading in London was slightly softer than the rest of the country.
Sales inside the M25 were 1.3% ahead of September 2023, while venues further afield achieved 1.9% growth.
“While some positive economic indicators raise confidence for a brighter final quarter of 2024, hospitality continues to battle substantial headwinds, and the forthcoming Budget is an opportunity to give the sector the targeted support it deserves,” says Karl Chessell, director - hospitality operators and food, EMEA at CGA by NIQ.
