JD Wetherspoon expects H1 loss as sales slump YTD

Pub chain JD Wetherspoon warned on Wednesday that it will swing to an interim loss in its current trading year after both total and like-for-like sales slumped year-to-date.

Wetherspoon stated that like-for-like sales had decreased by 11.7% in the 25 weeks to 16 January, while total sales were down 13.3% when compared to the equivalent period in the 2020 trading year.

The FTSE 250-listed firm highlighted that sales in the second quarter had been impacted by the UK's Plan B restrictions, announced by the government in December, as like-for-like sales decreased 15.6% in the 12 weeks to 16 January and total sales by 16.6%.

Chairman Tim Martin said: "As mentioned in our update on 13 December 2021, the uncertainty created by the introduction of plan B Covid-19 measures makes predictions for sales and profits hazardous.

"The company will be loss-making in the first half of the financial year, but hopes that, with the ending of restrictions, improved customer confidence and better weather, it will have a much stronger performance in the second half."