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Citigroup downgraded JD Wetherspoon to “sell” from “neutral” as part of a review of the UK pub and restaurant sector, which predicted continued tough times for consumers. Risks centre around a disorderly Brexit and high levels of personal leverage which could weaken the outlook further in 2019, and the recent step down in sterling and poor harvests pose additional challenges for the sector, Citi said.
“While special event dining will continue to support the high end and the structural growth in fast food and delivery will continue to support the low end of the market, many listed operators risk being squeezed in the middle ground. Restaurant capacity is finally contracting (down 0.4 per cent in the last 12 months) but CVA [company voluntary arrangement] mechanisms are preventing a full scale shake out and in our view extending the pain.”
Citi turned negative on Wetherspoon “as we don’t expect it to be immune from macro trends which could leave its valuation exposed”. The broker remained bearish on fellow pub operators Marston’s and Ei Group due to “stubbornly high” debt leverage and argued that both Marston’s and Mitchells & Butlers suffer from “weak cash conversion and earnings quality”. However, Citi upgraded M&B to “neutral” from “sell” on valuation grounds.
Gotta say one of the pleasures of Belgium is its excellent beer. Arguably unsurpassed in range and, definitely, strength. As for Coors, my piss after a session here is probably stronger and better tasting.
Almost certainly. The very mention of the word "Coors" brings me out in a cold sweat. What was it Monty Python said about making love in a canoe?
Gotta say one of the pleasures of Belgium is its excellent beer. Arguably unsurpassed in range and, definitely, strength.
As for Coors, my piss after a session here is probably stronger and better tasting.
Warrington, England
Burton-on-Trent, England
Tadcaster, England
Secondly it's not a British beer really is it? Originally made by a German and is now an American company but the European HQ is in the Czech Republic. There there is this slight problem: Coors Light uses three different hop varieties from the Pacific Northwest, Germany and New Zealand. So how is that trade deal looking with the EU, the USA and New Zealand? Why is Wetherspoons advertising what is basically a foreign beer?
Gosh, I'm glad you took the time to replace 1/3 of the sites I listed in England, with Warrington, that changes everything!
To answer the 3 direct questions you posed;
Is an iPhone an American product, or Chinese? (Not that it matters, similar to your 'British' question)
The trade deal(s) is/are ongoing, given no agreement has/have been reached thus far.
I believe spoons are in the business of selling drinks, of which Coors Light is one, which patrons may want to buy, thus generating revenue for spoons.
Are you aware, that there are plant cultivation techniques & equipment, which allow growers to replicate a multitude of growing conditions for a variety of plants?
Are you aware, that by brewing beer here in England (in the places you & I listed), it doesn't have to be imported, as your OP asserted?
I'm sure the market share leader in the UK, will do their level best to ensure they get their raw ingredients, to ensure revenue generation.
Warrington, England
Burton-on-Trent, England
Tadcaster, England
Secondly it's not a British beer really is it? Originally made by a German and is now an American company but the European HQ is in the Czech Republic. There there is this slight problem: Coors Light uses three different hop varieties from the Pacific Northwest, Germany and New Zealand. So how is that trade deal looking with the EU, the USA and New Zealand? Why is Wetherspoons advertising what is basically a foreign beer?
Enjoy a pint of cold, refreshing Canadian Coors Light lager today. Imported into the EU via the EU/Canada Free Trade Agreement and/or brewed under license in the European Union.
Originally posted by Bean
Is that the Coors, which is headquartered in Burton, UK; brews in Alton, Burton & Tadcaster - or some other Coors?
Enjoy a pint of cold, refreshing Canadian Coors Light lager today. Imported into the EU via the EU/Canada Free Trade Agreement and/or brewed under license in the European Union.
Enjoy a pint of cold, refreshing Canadian Coors Light lager today. Imported into the EU via the EU/Canada Free Trade Agreement and/or brewed under license in the European Union.
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