Company
LON:JDW
J D Wetherspoon plc is a United Kingdom-based company engaged in the development and management of public houses. The Company owns and operates pubs throughout the United Kingdom.
373 stories · page 13 of 19
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Profits at the no-frills pub chain are set to fall in the first six months of its financial year, as bosses were forced to hike wages back in November, which will more than offset rising sales
The US bank has upped its recommendation for Mitchells & Butlers to ‘overweight’ from ‘neutral’ and raised its stance on Greene King to ‘neutral’ from ‘underweight’
At the start of the year, ‘Spoons said like-for-like sales growth of 4.0% would be enough to match 2017’s record profits, but November’s unexpected wage hike has put paid to that
Higher costs, economic and political uncertainty and unfavourable weather made 2018 a difficult year for pubs but Christmas has brought at least some cheer for Greene King
US business confidence is on the wane, which could impact the number of hotel stays bosses make
‘Spoons is known for its wafer-thin margins, but aims to sell so much food and drink that it still turns a decent profit come end of the year, but JP Morgan has some reservations this time around
The group reported that sales in the year to 1 July had risen 8.5% to £279.8mln, however underlying earnings dipped 0.8% to £37mln as margins shrank to 13.2% from 14.5%
“As has been widely reported, unemployment is at a record low, putting upward pressure on wages. As a result, Wetherspoon is increasing the pay of our staff starting from this week”
The UK's premier benchmark index finished over 76 points higher, or 1.09%, at 7,117
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The latest interest rate decision from the Fed will be vying for attention as markets digest the results from Tuesday's midterm elections
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Aside from the US elections and Fed policy meeting, updates from UK blue-chip retailers J Sainsbury, Wm Morrison Supermarkets and Marks & Spencer should draw the most attention in the coming week
The latest industry data has shown that drink sales are still growing much more quickly than those of food
The upgrade from Barclays’ analysts has helped to push the stock back up towards its all-time highs
“If parliament votes to end tariffs and reject the 'Chequers Deal', consumers and business will benefit additionally by avoiding a cost of £39bn in respect of the EU 'divorce payment' - for which there is no legal obligation”
It was around that level most of the day and closed at 7,304 - that's up around 0.37% on the week
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The week will end with the final results of the FTSE 250 pub chain, in addition to the expected political musings from its chairman
The UK's index of leading shares added 1.6 points, or 0.02% , to finish at 7,279, while sterling was up 0.80% against the US dollar
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The week ahead includes annual results from Wetherspoons, Galliford Try and Dunelm along with interims from Morrisons and trading updates from AB Foods and Ashtead
Pub operators have been beset with various issues over the past year or two – weak consumer confidence and sky-high business rates – and Citi doesn’t see things changing any time soon
The UK blue-chip index finished up over 72 points at 7,504, while the mid-cap FTSE 250 was also higher
