The hospitality sector got a boost from the England and Wales FIFA World Cup matches, reporting the second and third busiest days over the last 12 months, according to data.
Research from Insight & Solutions said Monday and Friday were the “busiest Monday & Friday of the year to date”, with Christmas Eve 2021 the only day busier in the last 12 months.
“Friday sales were higher than any other Friday this year and the sales were higher than the Euros final with England v Italy on Sunday 11.07.21.”
“Every day outside of Monday and Friday saw sales lower than the previous week, Saturday sales were significantly cannibalised by Friday sales - with significant evening sales declines,” said Insight & Solutions.
However, while the home nations' fixtures are generating good sales levels, “this has cannibalised all other days in the week”.
“This is ‘good’ news” for the likes of Fuller Smith & Turner PLC (AIM:FSTA), Marstons PLC and Greene King (LSE:GNK), although they “could have reasonably hoped for more”, said Insight & Solutions.
Recently, Fuller's said it was counting on a boost from the World Cup and a Christmas free of Covid restrictions, although it continued to remain cautious on trading due to the economic environment.
Despite the chilly weather, pubs can still “expect to generate good footfall” as a result of the World Cup, according to Clive Black, an analyst at Shore Capital.
The timing of the spectacle, with the final on 18 December, also means that World Cup pub spending would likely take priority over Christmas spending, especially if England makes it deeper into the competition, with consumers eating into their festive budgets, according to Mark Brumby, a hospitality analyst at Langton Capital.
Sales have started to recover from the pandemic, with sales up 3% on pre-pandemic levels in the week to 19 November, according to data from CGA.
This was despite “mounting pressure on consumers’ disposable incomes” as the cost-of-living crisis continues to bite, especially ahead of the busy Christmas period where gift spending may take priority over pubs.
However, after adjustments for inflation, which hit a record high of 11% in October, sales are still significantly below 2021.