UK's Mitchells & Butlers says recent trading hit by soft consumer spending
Mitchells & Butlers Trading Update and Sector Overview
Slower Sales Growth Amid Cautious Consumer Spending
May 21 (Reuters) - British pub group Mitchells & Butlers said on Thursday its like-for-like sales growth slowed in the second quarter and the most recent three-week period, as cautious consumers reined in spending.
Cost Pressures and Margin Protection Strategies
Sector-wide Cost Controls
UK pub operators are relying on cost controls to protect margins as rising wages and energy costs pressure the sector.
Mitchells & Butlers' Cost Outlook
Mitchells & Butlers said cost headwinds for the current financial year would be slightly lower than previously expected.
Performance of Sector Peers
Young & Co's Brewery Sales Performance
Recent Sales Growth Despite Challenging Comparisons
Separately, peer Young & Co's Brewery said its like-for-like sales rose 3.4% over the last five weeks despite a strong year-earlier period, when sunny, dry weather had boosted trade.
(Reporting by Nithyashree R B in Bengaluru; Editing by Subhranshu Sahu)
