JD Wetherspoon Says Sales Growth Could Decrease As 2018 Continues
JD Wetherspoon has announced that it could face lower comparable sales growth and higher costs during the remainder of 2018 as a result of a larger tax bill, higher wages and rising property costs.
According to industry sources, as confirmed by The Irish Times, The British pubs group recorded a 3.6% rise in revenue to €940.8 million, as well as a 6.1% rise in like-for-like sales, for the half year ending on January 28. However, its like-for-like sales growth subsequently fell to 3.8% during the six weeks ending on March 11.
JD Wetherspoon chairman Tim Martin commented, "The company anticipates higher costs in the second half of the financial year, in areas including pay, taxes and utilities. In view of these additional costs, and our expectation that growth in like-for-like sales will be lower in the next six months, the company remains cautious about the second half of the year."