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 simon.zekaria@dowjones.com
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