Wetherspoon sales outperforming pub industry
Wetherspoon sales are performing at a rate of five times higher than the rest of the sector.
Sales at the managed pub operator J D Wetherspoon plc are performing at a rate of five times higher than the rest of the sector.
In the Wetherspoon trading update announcement for the 14 weeks to 3 November 2024, the Tim Martin-led business highlights its like-for-like sales performance in comparison to the CGA RSM Hospitality Business Tracker average.
In August, the tracker reported industry like-for-like sales of +1.3%, compared to +4.1% for Wetherspoon. In September, the tracker reported industry sales of +1.7%, compared to +5.7% for Wetherspoon.
Like-for-like sales for Wetherspoon in the first 14 weeks of the financial year were 5.9% higher than the same period last year. Bar sales increased by 5.7%, food by 5.7% and slot/fruit machines by 13.5%. Hotel room sales decreased by 2%.
Openings and costs
In the year-to-date, the company has opened two pubs - one in Marlow, Buckinghamshire, and another at London Waterloo station (pictured). It plans to open a total of nine pubs in the year, including sites at London Bridge station, Fulham Broadway underground station and Manchester Airport.
Five pubs have been sold in the year for a total of £2.4m, leaving Wetherspoon with a trading estate of 797 pubs.
Following the government budget on 30 October, Wetherspoon expects its taxes and business costs to increase by approximately £60m on an annualised basis in calendar year 2025, including an estimated 67% increase in national insurance contributions.
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