The Tracker shows restaurants were hospitality’s best performing segment in February with like-for-like growth of 2.2%, while pubs were only fractionally behind at 2.1%. However, bars suffered a 7.4% dip in sales, reflecting a squeeze on consumers’ late-night spending and a move towards earlier eating and drinking out. The On The Go segment was 0.5% behind in February 2023.

Restaurant, pub, bar and On The Go operators performed slightly better in London than elsewhere in Britain. Groups’ February sales within the M25 were 1.9% ahead of last year, compared to 1.3% outside it.

It continues a slow start to 2024 for the sector, after marginal growth of 0.1% in January in the wake of strong trading over Christmas. Patchy consumer confidence amid still-rising costs and economic and political uncertainty means many people remain cautious with their spending.
 
Karl Chessell, director, CGA by NIQ, said: “Subdued trading in February shows consumers remain watchful with their discretionary spending. With costs still rising for businesses as well as individuals, margins are under pressure and some operators remain fragile. But while the short-term outlook for hospitality is uncertain, underlying demand is good, and as inflation and interest rates hopefully ease and the Budget’s reduction in National Insurance contributions kicks in, we can be cautiously optimistic that people will start to loosen their spending over the Spring and Summer.”
 
CGA by NIQ collected sales figures directly from 103 leading managed groups for  February’s edition of the CGA RSM Hospitality Business Tracker, which provides authoritative monthly insights into Britain’s restaurant, pub and bar sales. Companies participating in the Tracker receive a fuller breakdown of trading that helps to benchmark performance and understand market trends. To join the cohort, contact Andrew Dean at andy.dean@nielseniq.com