Endeavour Group pubs and bottle shops take $9m hit from floods

Increased foot traffic at pubs was unable to offset declining bottle shop sales for Endeavour Group (ASX: EDV) in the third quarter, with the Woolworths Group (ASX: WOW) spin-off also counting the cost of floods for some of its BWS outlets and iconic bars.

Total revenue for the quarter ending on 3 April was down 2.1 per cent year-on-year, albeit this was influenced by the timing of Easter - normally a busy sales period - which fell in the fourth quarter this year.

The group has had to contend with the impact of recent floods and adverse weather across parts of New South Wales and Queensland, which caused roughly $9 million worth of damages.

Read More: https://www.businessnewsaustralia.com/articles/endeavour-sees-bounce-back-in-hotel-and-pubs-sales-but-hit-with-9m-damages-from-floods.html