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J D Wetherspoon plc (LON:JDW)’s fourth quarter like-for-like sales were 0.4% lower than 2019 levels. That comes as the recovery for draught ales, lagers and ciders was slower than anticipated, where sales were 8% lower than 2019. Spirits, cocktails, food and hotel rooms were higher than 2019 levels, as sites in city centres performed better than suburban locations. The group spent £128m buying out 48 pubs that it previously leased, bringing the proportion of freehold pubs to 68.3% of the estate. Losses for the full year are expected in the region of £30m, higher than previously thought. That c...
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“With peace talks appearing to falter, and expectations increasing that the devastating war in Ukraine will become entrenched, the oil price has been on the march upwards again. Brent crude is trading around $108 dollars a barrel, causing a fresh ripple of worry about the effect rising energy prices will have on businesses and consumers. Equity markets remain highly sensitive to the repercussions of the conflict and as fighting enters the fourth week, there still seems a gulf separating Russian and Ukrainian negotiators. The higher oil price is expected to boost shares in energy giants, with t...
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JD Wetherspoon plc (LON:JDW)’s like-for-like sales in the first 15 weeks of the year were 8.9% lower than in 2019 as bar, food and fruit/slot machine sales all declined. This was partially offset by an 11.5% increase in hotel sales. Q3 2021 hedge fund letters, conferences and more Although the group’s had some supply chain issues, they’ve eased in recent weeks. The group’s overall stocking levels have been in line with previous years. Wetherspoon also reported no widespread issues with recruitment. Chairman Tim Martin said, “Whereas we have an increased element of caution about near-term sales...
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“J D Wetherspoon plc (LON:JDW)’s trading update has been greeted with very little cheer among investors with shares down around 0.5% in early trading. Q2 2021 hedge fund letters, conferences and more Although across the sector outside terraces are heaving and revellers are making the most of their new found social freedoms, sales at the chains are still like a weak pint of beer. Far from being a cash cow, the Euros haven’t helped boost trade, with like for like sales down 20.8% between June 10 and July 4, whereas just before the tournament they were down by 8.1%. The company may be ruing its d...
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The ONS has released the economies of ale report using data from the Business Impacts and Conditions survey Q1 2021 hedge fund letters, conferences and more 100% of all pub and bar businesses surveyed in December said profits had decreased by more than 50%, and a third said profits had decreased by more than 50% at the beginning of May.This compares to 12% for all other businesses in December and around 9% by the beginning of May.Less than a quarter of pubs and bars say they have high confidence that their businesses will survive the next three months (23.9%), while just under half (43.8%) of ...
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