Walkabout owner cautious on trading

Walkabout owner Regent Inns today said uncertainty over England’s participation in Euro 2008 had added to its trading worries.

The group identified the national team’s possible failure to qualify for next summer’s football tournament as one of the reasons why it remained cautious about prospects. It also noted the “increasing likelihood” of a slowdown in consumer spending, plus the full impact of the UK-wide smoking ban.

Walkabout attracts customers with its big-screen coverage of major sporting events, such as last month’s rugby World Cup.

The chain enjoyed a significant boost from England’s progress to the final, but Saturday evening sales at Regent’s comedy club chain Jongleurs and its Old Orleans restaurants business declined as a result.

Regent’s last trading update at the start of October showed like-for-like sales fell 1% in the 14 weeks to October 6. While Jongleurs venues enjoyed a marginally better performance than the Walkabout estate, Regent noted the period included comparisons with the World Cup football tournament a year earlier.

The company, which has 63 bars in its Walkabout and Jongleurs estate and another 31 Old Orleans, did not provide new trading figures today.

It said: “In the period following October 6, trading has been influenced by England’s participation in the semi-final and final of the Rugby World Cup. Whilst sales in Walkabout benefited significantly on these days, sales in Jongleurs and Old Orleans declined.”