September 8, 2017 / 6:16 AM / 18 days ago

Greene King warns of tougher times ahead as sales slip

Sept 8 (Reuters) - Pub operator Greene King expects weaker consumer confidence to persist in the near term, it said as it reported a dip in sales at its pubs.

The Suffolk-based brewer, which operates about 2,924 pubs, restaurants and hotels across England, Scotland and Wales, said that pub like-for-like sales for the 18 weeks to Sept. 3 were down 1.2 percent, compared with a market decline of 0.7 percent.

“Over the course of the year so far, most of the like-for-like sales decline can be attributed to value food, though more recently we saw some softening across other segments,” the company said.

Rising inflation and muted wage growth after Britain’s vote to leave the European Union last June is forcing many consumers to rein in their spending. (Reporting by Rahul B in Bengaluru; Editing by David Goodman)

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