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Retail

Slug and Lettuce owner Stonegate Pub Company posts strong sales growth over key Christmas period

The private equity-owned firm, which has a portfolio of more than 700 pubs, bars and late night venues, saw its sales rise 12% higher year-on-year in the two weeks to 1 January 2019

Stonegate Pub Company, the private equity-owned firm which includes chains such as Slug and Lettuce, Walkabout and Yates, reported higher sales over the Christmas period.

The group, which has a portfolio of more than 700 pubs, bars and late night venues, saw its sales rise 12% higher year-on-year in the two weeks to 1 January 2019.

READ: John Lewis reports sales increases in final week of 2018 following Christmas rush

It added that like-for-like sales growth between 1 December and 1 January was 7.8%, with important trading days, such as Christmas Eve and New Year's Eve, seeing sales increase by 8.3% on average.

Stonegate is the fourth largest managed-pub company in the UK, formed in 2010 by TDR capital to acquire 333 pubs from Mitchells & Butlers PLC (LON:MAB) and expanding through a number of acquisitions since, including the Henry's Café Bar and Tattershall Castle chains.

The festive figures, the first from a major UK pubs operator, follow on from reassuring Christmas trading updates this week from retailers Next PLC (LON:NXT) and John Lewis.

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