Latest news with #MitchellsAndButlers
Yahoo
27-05-2025
- Business
- Yahoo
Nightclub trade shrinking as younger people stay at home instead
The UK's late-night economy is facing a downturn as younger generations increasingly opt for social media and home deliveries over traditional nights out, according to the head of one of Britain's largest pub and bar operators. While the hospitality sector anticipates a boost from the upcoming bank holiday weekend, family-oriented occasions like Mother's Day and Easter have been the primary drivers of increased footfall for many chains. Mitchells & Butlers, the group behind restaurant, pub, and bar chains including Toby Carvery, Harvester, All Bar One, Nicholson's, and Miller & Carter, has taken a different approach to other hospitality firms. Chief executive Phil Urban stated that the company will not seek expansion in the late-night market due to the significant challenges it presents. "The toughest part of the market right now is late night," Mr Urban told the PA news agency. He added, expressing relief at the company's limited exposure to the struggling sector: "We're certainly not exposed like pure, late-night operators are, so we're quite thankful for that." Last week, Marston's, which operates around 1,300 pubs across the UK, reported a rise in customers attributed to such events, highlighting a shift in consumer preferences. The company has also invested in a new sports pub concept to tap into the expanding market for sports-focused venues. Mr Urban said younger people were straying from previous generations who would be more inclined to 'go out late night and stay out'. 'I think social media means that you don't have to do that to stay in touch with your friends,' he told PA. The booming takeaway and home delivery market was also having an influence, he suggested, adding: 'People are often meeting beforehand to have something to eat, having a few drinks at home, before going out. 'So, those pure late-night, club operators, have certainly got a smaller market. 'We wouldn't go back into that sort of club market, it's not for us, because I do think it's going to take a long while to reverse – if it does.' He said all the company's brands were 'doing well', but that its Irish pub and bar chain O'Neill's was 'probably having the toughest time' due to its exposure to the night-time industry. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Guardian
27-05-2025
- Business
- The Guardian
Tough times loom for night-time economy as young Britons opt to go out (and go home) early
A social media and a home delivery boom has shifted younger people's attitude to going out and risks shrinking the late night entertainment market, the boss of one of the UK's biggest pub companies has warned. Phil Urban, the chief executive of the pub operator Mitchells & Butlers, said that the 'toughest part of the market right now is late night' as younger people abandon the traditions of previous generations, who would be more inclined to 'go out late night and stay out'. 'I think social media means that you don't have to do that to stay in touch with your friends,' he said. 'People are often meeting beforehand to have something to eat, having a few drinks at home, before going out. So, those pure late-night, club operators, have certainly got a smaller market.' He added: 'We wouldn't go back into that sort of club market, it's not for us, because I do think it's going to take a long while to reverse – if it does.' In 2013, the UK had 1,700 nightclubs. By June 2024 there were fewer than half as many, just 787, according to figures from the analysts CGA by NIQ and AlixPartners. The Covid-19 pandemic, which effectively shut down the industry for months on end, sped up the pace of decline, putting paid to more than a third of Britain's clubs, the Night Time Industries Association (NTIA) has said. Mitchells owns restaurants, pubs and bar chains including Toby Carvery, Harvester, All Bar One, Nicholson's, and Miller & Carter. Urban added that the group's brands were 'doing well', but that its Irish pub and bar chain O'Neill's was 'probably having the toughest time' due to its exposure to the night-time industry. While hospitality companies will be hoping for a boost in spending over the bank holiday weekend, family-focused events such as Mother's Day and Easter have been the driving force behind a jump in visitors for many chains. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Earlier this month, Marston's, which runs about 1,300 pubs in the UK, said such occasions were bringing in more customers, while it has recently invested in a new sports pub concept to capitalise on the growing market. Even so, the overall pub sector faces challenging conditions itself due to cost of living pressures for its customers, while recent rises in employer national insurance contributions and the national minimum wage has also left companies considering whether or not to raise prices.
Yahoo
26-05-2025
- Business
- Yahoo
Nightclub market shrinking as younger people stay at home, says pub boss
The boss of one of the UK's biggest pub and bar operators has warned over a shrinking late-night market as social media and a home delivery boom has shifted younger people's attitudes to going out. Phil Urban, the chief executive of Mitchells & Butlers, said the group would not look to grow in that market because of the challenges it faces. 'The toughest part of the market right now is late night,' Mr Urban told the PA news agency. 'We're certainly not exposed like pure, late-night operators are, so we're quite thankful for that.' Mitchells owns restaurants, pubs and bar chains including Toby Carvery, Harvester, All Bar One, Nicholson's, and Miller & Carter. While hospitality companies will be hoping for a boost in spending over the bank holiday weekend, family-focused events like Mother's Day and Easter have been the driving force behind a jump in visitors for many chains. Last week, Marston's, which runs about 1,300 pubs in the UK, said such occasions were bringing in more customers, while it has recently invested in a new sports pub concept to capitalise on the growing market. Mr Urban said younger people were straying from previous generations who would be more inclined to 'go out late night and stay out'. 'I think social media means that you don't have to do that to stay in touch with your friends,' he told PA. The booming takeaway and home delivery market was also having an influence, he suggested, adding: 'People are often meeting beforehand to have something to eat, having a few drinks at home, before going out. 'So, those pure late-night, club operators, have certainly got a smaller market. 'We wouldn't go back into that sort of club market, it's not for us, because I do think it's going to take a long while to reverse – if it does.' He said all the company's brands were 'doing well', but that its Irish pub and bar chain O'Neill's was 'probably having the toughest time' due to its exposure to the night-time industry.
The Independent
26-05-2025
- Business
- The Independent
Nightclub market shrinking as younger people stay at home, says pub boss
The boss of one of the UK's biggest pub and bar operators has warned over a shrinking late-night market as social media and a home delivery boom has shifted younger people's attitudes to going out. Phil Urban, the chief executive of Mitchells & Butlers, said the group would not look to grow in that market because of the challenges it faces. 'The toughest part of the market right now is late night,' Mr Urban told the PA news agency. 'We're certainly not exposed like pure, late-night operators are, so we're quite thankful for that.' Mitchells owns restaurants, pubs and bar chains including Toby Carvery, Harvester, All Bar One, Nicholson's, and Miller & Carter. While hospitality companies will be hoping for a boost in spending over the bank holiday weekend, family-focused events like Mother's Day and Easter have been the driving force behind a jump in visitors for many chains. Last week, Marston's, which runs about 1,300 pubs in the UK, said such occasions were bringing in more customers, while it has recently invested in a new sports pub concept to capitalise on the growing market. Mr Urban said younger people were straying from previous generations who would be more inclined to 'go out late night and stay out'. 'I think social media means that you don't have to do that to stay in touch with your friends,' he told PA. The booming takeaway and home delivery market was also having an influence, he suggested, adding: 'People are often meeting beforehand to have something to eat, having a few drinks at home, before going out. 'So, those pure late-night, club operators, have certainly got a smaller market. 'We wouldn't go back into that sort of club market, it's not for us, because I do think it's going to take a long while to reverse – if it does.' He said all the company's brands were 'doing well', but that its Irish pub and bar chain O'Neill's was 'probably having the toughest time' due to its exposure to the night-time industry.
Yahoo
23-05-2025
- Business
- Yahoo
Mitchells & Butlers First Half 2025 Earnings: EPS Beats Expectations
Revenue: UK£1.45b (up 4.2% from 1H 2024). Net income: UK£100.0m (up 24% from 1H 2024). Profit margin: 6.9% (up from 5.8% in 1H 2024). The increase in margin was driven by higher revenue. EPS: UK£0.17 (up from UK£0.14 in 1H 2024). We check all companies for important risks. See what we found for Mitchells & Butlers in our free report. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.7%. Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Hospitality industry in the United Kingdom. Performance of the British Hospitality industry. The company's shares are up 5.6% from a week ago. While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Mitchells & Butlers' balance sheet and an in-depth analysis of the company's financial position. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
