Mitchells & Butlers Q1 sales rise, driven by Christmas trading

Core Insights - Mitchells & Butlers (M&B) reported a 4.5% increase in like-for-like first-quarter sales, driven by strong demand during the Christmas period [1] - The company recorded a like-for-like growth of 7.7% over a 15-week period ending January 10, 2026, with a notable 10.5% increase across five key festive days [1][2] - Total sales increased by 3.5% year-to-date [1] Sales Performance - Like-for-like sales for food rose by 5.1% and for drinks by 3.8% during the 15-week period [2] - Christmas Day set a new all-time record for the highest sales day, surpassing last year's benchmark [3] Company Strategy and Investments - M&B continues to invest in its estate, having completed 51 conversions and remodels so far this year [3] - The company expects around £130 million ($174 million) in year-on-year cost headwinds due to higher labor costs and food inflation [4] - M&B aims to tackle cost headwinds through its Ignite programme and capital investment programme, focusing on cost efficiencies and increased sales [4] Market Position - The company believes it is well positioned to grow market share by leveraging its diverse portfolio of established brands and prime estate locations [5]