JD Wetherspoon Quarterly Sales Up 6.7%
Published on Jan 23 2014 9:09 AM in Pub/Bar/Nightclub
British pub chain JD Wetherspoon yesterday reported yet another substantial surge in Christmas sales.
The firm, which has grown to over 880 pubs, said that sales at pubs open over a year rose 6.7% in the first 12 weeks of its second quarter to 19 January, up from a 3.7% first-quarter rise.
However, the chain which is expected to open it's Irish pub in Blackrock by April, said preparations for expansion would keep margins under pressure this year.
The group has said it is planning to open up to 30 pubs in Ireland in the long term. Operating margin for the full-year was now expected to be between 8.1-8.3%, the firm said, having previously guided to 8.3%. The margin was 8.7% in 2012-13. In November Wetherspoon increased its guidance for new pub openings for the 2013-14 financial year from 30 to between 40 and 50 due to a number of recent acquisitions. Wetherspoon chief executive John Hutson said last month: “Wetherspoon continues to go from strength to strength and I am delighted that the company has reached this milestone.
“We will continue to open new pubs and create jobs for many more years to come.”
© 2014 - Hospitality Ireland Magazine by Enda Dowling