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Whitbread

Whitbread, the owner of the Premier Inn and Costa brands, has published a Q1 update this morning. Whilst the company is keen to promote overall sales growth of 3.2%, the like-for-like reading is a rather less impressive 1.3% contraction. Strong comparatives are cited as being the driver here, but dig a little deeper and margins – especially in the hotels division – do seem to be under some notable pressure. The plan to demerge Costa continues apace however and given today’s numbers, this could well be the business to focus on.

Mitie

Outsourcer Mitie group has been under investigation by the FCA over the timing of a profit warning it issued back in 2016. This morning the company has announced that the regulator was discontinuing its investigation into the affair. Not only will the absence of any punitive penalty be cause for relief amongst investors, but this news also takes a layer of uncertainty away from the business.

Crawshaw

More downbeat news from the high street, this time with a trading update from Crawshaw, the UK’s leading value butcher. They are currently in a transition period, moving away from traditional retail outlets and moving to a factory shop format. Like for like sales fell almost 13% in the 20 weeks to June 17 and as the company says, this is reflecting a nationwide theme of lower foot fall and softer consumer sentiment.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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