Like-for-like sales continued to decline at Regent Inns, despite a double-digit boost during the Euro 2004 football championships.
The group said that while sales had increased by 10.8% in the 52 weeks ended 3 July, like-for-like sales at its branded chains had fallen by 5.4%.
The decline in like-for-like sales had improved to a fall of 3.5% in the six weeks leading to Euro 2004 thanks to improved trade at Walkabout and a continued strong performance at Bar Risa /Jongleurs.
The football tournament boosted like-for-like sales by 15.2% over the final three weeks of the financial year.
Earlier this year, Regent Inns announced a freeze on new Walkabout openings. It said it would continue to focus on stabilizing sales and profitability at the brand.
To date, the group has sold 14 of the unbranded pubs earmarked for disposal, with another six exchanged or under offer. Three unbranded pubs remain on the market.
• North of England late-night bar operator Ultimate Leisure announced today that its results for the year to 30 June 2004 will “be towards the top end of current market expectations.” It expects sales to be 35% ahead of the previous financial year.
• Burtonwood Brewery said business had been “encouraging” during the 13 weeks to 3 July, with sales rising by 9% across its managed pubs and by 3% across the tenanted estate.
by Angela Frewin
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