JD Wetherspoon expects H1 loss as sales slump YTD

dl jd wetherspoons pub sign outside drinking — WetherspoonsSharecast photo / Josh White

Wetherspoon (J.D.)

620.00p

16:40 18/11/24

-0.96%

-6.00p

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.

Travel & Leisure

8,661.05

17:09 18/11/24

0.17%

14.91

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."