The Restaurant Group PLC said its Wagamama outlets and pubs have continued to outperform the market in 2022.
Year-to-date, Wagama has seen like-for-like (LFL) sales rise 15% versus the same period of 2019 (i.e. pre-pandemic), which the group said is nine percentage points above the market.
Its pubs’ LFL sales are up 10% (+11 percentage points versus the market), while its leisure outlets have seen LFL sales rise 6%, in line with the sector as a whole.
The picture is bleaker in the Concessions estate of 41 sites at airports, some of which are still not trading. LFL sales year-to-date are down 20% from two years ago, but up 12 percentage points versus the sector.
In line with cost pressures experienced across the sector, food and drink inflation is now expected to be around 9% to 10% in 2022, versus the 5%+ outlined at the time of the group's full-year results in March.
Management's current expectations for 2022 remain unchanged, with continued robust trading in its Wagamama and Pubs businesses and the stronger recovery in Concession sales offsetting the increased food and drink inflationary impact.
Shares in The Restaurant Group were up 0.4% at 54.55p.