Punch Taverns says Christmas trading was subdued
Punch Taverns says Christmas trading was subdued
Punch Taverns said on Wednesday trading over the Christmas period was subdued, with declining consumer confidence coinciding with the smoking ban in England and Wales.
"Despite the market conditions, our leased estate delivered a satisfactory performance in the first 20 weeks of our financial year ... with like-for-like outlet profit marginally lower than last year, down 0.8 percent," Punch said in a statement.
"In the core managed estate like-for-like sales have declined by 2.2 percent, with food sales having grown by 1.0 percent. Food sales now account for 39 percent of total sales in the managed estate," it said.
http://uk.reuters.com
Punch Taverns said on Wednesday trading over the Christmas period was subdued, with declining consumer confidence coinciding with the smoking ban in England and Wales.
"Despite the market conditions, our leased estate delivered a satisfactory performance in the first 20 weeks of our financial year ... with like-for-like outlet profit marginally lower than last year, down 0.8 percent," Punch said in a statement.
"In the core managed estate like-for-like sales have declined by 2.2 percent, with food sales having grown by 1.0 percent. Food sales now account for 39 percent of total sales in the managed estate," it said.
http://uk.reuters.com
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