Sales in Britain’s managed restaurant, pub and bars sectors rose above pre-pandemic levels in February, according to market research group CGA.
The latest Coffer CGA Business Tracker revealed like-for-like sales rose 3% year-on-year compared to (pre-pandemic) February 2019, after falling 1.0% on a two-year comparison basis in January.
Restaurants increased like-for-like sales by 9% in February, just outpacing the 7% growth for bars, which benefited from the scrapping of requirements for vaccination passes in late-night venues, CGA said. Pubs had a tougher month, ending down 1% on the pre-COVID-19 levels of February 2019.
London continues to struggle to recapture former glories. Managed groups’ like-for-like sales inside the M25 in February were 4% below February 2019, compared to growth of 6% beyond the M25.
“These figures show managed groups are building momentum after two years of turmoil. Delivery and late-night bars are particularly buoyant at the moment, and underlying demand for hospitality experiences remains strong; however, margins are being tightly squeezed by fast-rising costs, and the cost-of-living crisis is likely to dent consumer spending as the year goes on. Some businesses remain extremely vulnerable, and there’s a powerful case for government support on tax and other issues to help them fuel the UK’s post-COVID-19 economic recovery,” said CGA’s Karl Chessel.
GA collected sales figures directly from 62 leading companies for the February edition of the Coffer CGA Business Tracker.