Olympics False Start Hits UK July Leisure Trading - Study

  By Simon Zekaria 
 

LONDON--Trading for pubs and restaurants across the U.K. failed to get off to a flying start in the week running up to the Olympic Games as figures for July dipped amid dismal weather, a study published Wednesday showed.

The Coffer Peach Business Tracker reported that comparable sales fell 0.2% from the same month last year, following June's 1.3% increase. Total sales, which include new openings, rose 3.6%.

The tracker monitors trends in the eating and drinking-out market by collecting monthly performance data from 25 companies, including Whitbread PLC (WTB.LN), Mitchells & Butlers PLC (MAB.LN), Spirit Pub Co. PLC (SPRT.LN) and Marston's PLC (MARS.LN).

Analyst Peter Martin of Peach Factory, a market intelligence group that produces the report in partnership with UBS AG (UBS) and investment advisory service The Coffer Group, said the impact from the build-up to the Olympics was muted.

"Our July figures include the week running up to the opening ceremony and the first weekend, which was actually the worst performing week of the month, and the one that pushed an otherwise generally flat period into just negative territory," Mr. Martin said.

Mr. Martin cautioned that the full impact of the event won't be seen until the August figures are published.

"We do know from provisional figures that for the market as a whole the first full week of the Games was marginally up on the same week last year."

Write to Simon Zekaria at [e-mail]

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