Sober Christmas sales spoil the party at Pubs ‘n’ Bars
20 January 2009
It’s a case of glass half full for pub owner and operator Pubs ‘n’ Bars, which today described a dip in Christmas sales as “satisfactory” considering the dire state of the UK economy.
The company said like-for-like revenues over the peak Christmas period were down by 0.4% on the same period last year, with revenues for the last quarter of 2008 down by approximately 2.3%.
Pubs ‘n’ Bars said conditions in the last quarter had been extremely challenging and that, along with most other operators, it had been experiencing very difficult trading conditions as the economy and consumer confidence deteriorates.
It noted that the licensed trade faced many obstacles apart from the recession, including the smoking ban, supermarket cut price sales of alcohol, duty increases, the rising cost of utilities and other operational costs. However, it said it remained confident that running convivial, traditional, non-fashion dependent pubs would prove to be a resilient business with good growth prospects over the longer term.
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