Peach reports that it has seen out the end of 2013 with its most successful week on record and healthy December like for likes, rounding out another year of progress for the independent, award-winning pub company.
The Oxfordshire-based business, led by co-founders Hamish Stoddart and Lee Cash, reported 7.1% like for likes in the last month of the year and a £600,000 record-breaking week in its last full trading week before Christmas (16th – 22nd December), boosted by several star pub performances.
“Eleven years in we’re still going forward every year, with another great year under our belts in 2013 and everything to play for in 2014,” says Peach co-founder Hamish Stoddart. “The majority of our pubs were at 10% like for likes in December, although we got battered in a couple.
“Outside of London in market towns where many of our pubs are, it’s been brutally hard and yet we finished on plan for the year with a strong second half.
“Operators think it’s easy to run pubs in market towns and therefore they’re coming into them, but the reality is it’s a pretty tough and competitive place. There aren’t many people in our market towns who’ve had pay rises and who can afford to eat out as regularly as before so our success comes from the fact we continue to beat the competition in getting more guests to return to us and use us in a limited market.”
Star performers
Among the Peach star performers for last year were The Fishes in North Hinksey, Oxford, which was up 25% in December, and The Rose and Crown in Warwick, the company’s original pub which had its biggest week ever in December at £50,000 from a small pub where Peach is managing bookings and parties more effectively than ever.
“New pubs in the Peach fold are also doing well,” continues Hamish. “The Chequers in Eversley Cross, Hampshire had a sterling year and is a good example of what we can do in partnership with pubcos and property owners and we’ll be sharing the results of that success through our turnover rent with Spirit. We also work with Spirit at The Old Mill in Berkhamsted and that pub did a 21% increase last year after we invested in a major refurbishment of its canal-side site.
Plans for 2014
“Christmas was done just a little better again through more control on-line and a concerted push from the autumn onwards. We’re in good shape for 2014, with one opening lined up as well as two major refurbishments as we invest in developing our own places. We’re also looking for one or two more new sites this year, as well as more talented people and partners to join us.” he says.
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