Sales at the Mitchells & Butlers pub chain have plummeted as hospitality industry executives complain about the “lost Christmas”.
The Mitchells & Butlers pub chain saw sales drop during the holidays as industry leaders complained about the “missing Christmas”.
The firm said sales for the four weeks to Jan. 8 were 10.2 percent lower than the same period in 2019 before the pandemic.
In the first quarter of this fiscal year – from 15 weeks to January 8, sales fell 1.5 percent.
Omicron effect: According to the Mitchells & Butlers pub network, sales from four weeks to January 8 were 10.2 percent lower than the same period in 2019 before the pandemic began.
But CEO Phil Urban was excited: “The information about the Omicron option has inspired us, which will increase consumers’ confidence in returning to pubs and restaurants, ”he said.
Shares rose 1 percent or 2.4p to 260p.
M&B data, which operates nearly 1,700 pubs under brands such as Harvester, All Bar One and Toby Carvery, came to light when it was reported that Christmas riots were caused by Covid.
At the end of December, 3 percent of the workforce, or 1 million people, were laid off because of Kovid, and 21 percent of businesses reported an increase in layoffs.