Revolution Bars Group has forecast its annual core profit to be at the bottom-end of market expectations after the city-centre pub chain’s Christmas sales were hit by train strikes.
It told the markets that the key sales period was dampened by nationwide train strikes in the UK amid a cost-of-living crunch that had already raised concerns for hospitality firms.
The group has been closing its Revolution and Revolucion de Cuba sites on Mondays and Tuesdays throughout January and early February to save on energy costs.
“Given the current economic environment, the coming months are going to be challenging and uncertain, not only for us, but for many businesses. We are not immune to this,” said Revolution Bars chief executive Rob Pitcher in a statement.
It’s like-for-like sales in its Revolution and de Cuba bars were down 9.4% in the half year to December.
During the Christmas period, like-for-like sales were 17.3% compared to 2021, reflecting a bounce back in corporate guest confidence, the company added, although sales last year were impacted by the Omicron coronavirus variant.
However, walk-in revenues were lower as a result of train strikes and the cost-of-living crisis, meaning overall sales were down 9% on pre-coronavirus 2019.
