Sales up in JDW results, but costs remain a concern

Pub operator J D Wetherspoon has said that costs across the business have increased by £45m in the first 25 weeks of its financial year.

In the 25 weeks to 18 January 2026, like-for-like sales were 4.7% higher than the same period a year ago.

However, with chairman Tim Martin (pictured) saying "costs have been higher than anticipated", increases across energy, wages, repairs and business rates are likely to dent Wetherspoon's trading outcome for the year.

“Profits in the first half are likely to be lower than the comparable period in the previous financial year," says Martin. "If the current sales momentum continues, the company currently anticipates a full year trading outcome slightly below that achieved in FY25."

Sales surge  

Bar sales in Q2 increased by 6.9%, food by 1.3% and slot/fruit machines by 9.1%. Hotel room sales, however, decreased by 0.7%. 

Like-for-like sales for the last 12 weeks of the 25-week period were 6.1% higher than the same period a year ago. Total sales have grown by 5.3% in the year to date. 

Sales for the main Christmas period, the three weeks from 15 December 2025 to 4 January 2026, were up by 8.8%. 

Debt levels at Wetherspoon at the end of FY26 are currently expected to be between £740m and £760m (FY25: £724m).

In the year-to-date, the company has opened six pubs – at London Bridge station, Merchant Square in Paddington, Kenilworth, Basildon, Wetherby and Beaconsfield.

The company anticipates opening a total of 15 pubs in the current financial year. 

Six pubs have been sold in the year, generating a net cash inflow of £3.3m. The company currently has a managed trading estate of 794 pubs. 

In addition, eight franchised pubs have opened in the year-to-date, bringing the total number to 16. A further 10-15 are expected to open in the rest of the financial year, including the company’s first opening in mainland Spain at Alicante Airport. 

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