JD Wetherspoon reports sales outperforming wider sector

JD Wetherspoon has outperformed the market with like-for-like sales increasing by 9.5% in the first 14 weeks of the financial year.

The pub giant's financial update showed bar sales had increased by 10.7%, food by 8.2% and room sales by 6.2%.

The Coffer CGA Business Tracker reported industry like-for-like sales had increased by an average of 5.9% in September, the last month for which information is available.

The period saw JS Wetherspoon open one pub at London's Heathrow airport, sell four freehold pubs and surrender leases on six properties leaving its trading estate at 816 pubs.

Chairman Tim Martin said: "Sales in the first 14 weeks of the financial year have continued the pattern of gradual improvement which has followed the ending of lockdowns and restrictions. Inflationary pressures have eased, but energy costs, in particular, remain at far higher levels than pre-pandemic, putting pressure on suppliers and the wider economy.

"The company is increasing investment in existing pubs in the current financial year to approximately £70 million (FY23: £46.9 million). Areas of investment include new staff rooms, changing rooms, glass racks above bars (to cater for increased usage of brewers' "branded" glasses) and air conditioning.

"The company currently expects an outcome for the financial year in line with market expectations, and will provide further updates as the year progresses."

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