Rank in officers for bingo in michigan11/20/2023 ![]() ![]() The downturn comes at a difficult time for Rank, which last month announced that Henry Birch, the chief executive, was leaving to run the online retailer Shop Direct. The uncertainty created by the Brexit negotiations, coupled with rising inflation and stagnant real wage growth, has eroded consumer confidence with a string of high street retailers and mid-market restaurants reporting weak sales. ![]() “The board is cautious about the UK consumer outlook and as a result expects venues to continue to be impacted for the remainder of the 2017-18 financial year and into 2018-19,” said Rank. The situation was worse at its Grosvenor Casino chain, with where sales down 9% as weaker than expected visitor numbers were compounded by the run of good luck among high-rollers. Underlying sales in its Mecca bingo halls declined by 2% in the 13 weeks to 1 April as bingo fans stayed home during the recent snows. ![]() Rank blamed much of the profits fall on the squeeze on consumer spending, with its board expecting tough trading conditions to continue into 2019. ![]()
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