Wetherspoon slightly cautious, hails outperforming market as sales up
JD Wetherspoon PLC on Wednesday said sales increased in its first quarter, as it extended its streak of outperforming a market tracker.
However, it emphasised that it was slightly more cautious in its outlook for the rest of the year, ahead of the UK government budget due later this month.
The Watford, England-based pub group said like-for-like sales in the 14 weeks to November 2, its first quarter plus one more week, expanded 3.7% on-year.
Total sales rose 4.2% in the year to date, Wetherspoon added.
The firm said it has outperformed the CGA RSM Hospitality Business Tracker for ‘37 consecutive months’.
‘The CGA RSM Hospitality Business Tracked reports monthly LFL sales for a number of multi-outlet pub and restaurant companies. In September, the latest month for which information is available, the tracker reported industry sales of +0.2%, compared to +3.4% for Wetherspoon,’ the FTSE 250-listed company said.
Wetherspoon expects an additional 12 franchised openings in the current financial year that ends on July 26, 2026, making 15 in total, confirming earlier guidance.
Looking ahead, Chair Tim Martin said: ‘The company is pleased with the continued sales momentum but is mindful of the chancellor’s budget statement later this month and, as a result, is slightly more cautious in its outlook for the remainder of the year.’
Wetherspoon shares fell 1.2% to 634.00 pence each on Wednesday morning in London.
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