Managed group sales up 4% in March despite inflation, data finds

Despite the high inflation, Britain’s managed restaurant, pub and bar groups achieved a 4% increase in like-for-like sales from pre-Covid-19 levels in March, according to the new Coffer CGA Business Tracker.

It revealed the sales increase continues a “gradual upturn” this year, after a like-for-like drop of 1% in January and 3% increase in February.

According to the CGA, bars performed the strongest of the tracker’s three sectors in March, with like-for-like sales up 8%, as consumers continue to seek “high tempo and experiential visits”.

Restaurants were close behind with 6% increase due to “flourishing” delivery sales, while pubs were up 2%.

However, the association said trading in London continues to “lag well behind” other parts of the country. Managed groups’ like-for-like sales inside the M25 in March were “flat”, compared to 6% increase beyond the M25.

Karl Chessell, director – hospitality operators and food, EMEA at CGA, said: “Two years on from the start of the pandemic and unprecedented turmoil in hospitality, these figures show managed groups are building back steadily.

“It’s particularly pleasing to see bars performing so well, as people return to late-night visits. However, like-for-like figures are well below inflation, and with soaring costs in energy, food and other areas hurting both operators and consumers, real-terms growth will be extremely challenging for some time.”

Mark Sheehan, managing director at Coffer Corporate Leisure, added: “Whilst restaurant and bar sales are continuing to increase, these numbers are well below inflation.

“After a long challenging period for operators the recovery is slow and the challenges faced by the sector are wide. These numbers are improving though and returning workers and tourists in increasing numbers should help lift London over the coming months.”