Trading Update Announcement
Like-for-like sales up 3.4% in Q3; company flags cost pressures may impact profits below expectations.
vs expectations: slightly below year-to-date, profits expected below market expectations
- Like-for-like sales growth (Q3) 3.4%
- Like-for-like sales growth (YTD) 4.3%
- Total sales growth (Q3) 4.1%
- Total sales growth (YTD) 4.9%
- Managed pubs operating 794
- Year-end net debt guidance £740m-£760m
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J D Wetherspoon plc ('J D Wetherspoon' or 'the Company'), announces a trading update for the 13-week period to 26 April 2026.
Current Trading
Like-for-like sales increased by 3.4% in the 13 weeks to 26 April 2026, compared to the same period last year. Year-to-date (YTD) like-for-like sales increased by 4.3%.
Total sales increased by 4.1% in the quarter and by 4.9% YTD.
Property
In the YTD, the company has opened eight pubs and sold eight.
The company currently operates 794 managed pubs. In addition, 21 pubs operate under a franchise agreement. There have been 13 franchised openings in the YTD.
Financial Position
In the YTD, the company has purchased 3,845,754 of its own shares for cancellation at an average price of £6.80 a share.
In addition, the company has purchased the freehold reversions of four pubs for a total of £12.2 million, bringing the amount we've spent on freehold reversions since 2011 to £489 million.
We continue to anticipate year-end net debt of between £740 million and £760 million.
Interest costs for the financial year will be approximately £47 million, in line with FY25.
Outlook
The chairman of JD Wetherspoon, Tim Martin, said:
"Sales growth was ahead of the 'NIQ RSM Hospitality Business Tracker' for the 43rd month in a row in March 2026, although Wetherspoon's growth for Q3 was slightly below the year-to-date.
"The company has a strong pipeline of new pubs and planned openings include Manchester airport, Heathrow airport, Paddington station, Charing Cross station and Shaftesbury Ave in central London.
"As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs, which may result in profits slightly below market expectations."
- Visit our website: www.jdwetherspoon.com
- This announcement has been prepared solely to provide additional information to the shareholders of J D Wetherspoon, to meet the requirements of the FCA's Disclosure and Transparency Rules. It should not be relied on by any other party, for any other purposes. Forward-looking statements have been made by the directors in good faith, using information available up until the date on which they approved this statement. Forward-looking statements
should be regarded with caution, because of the inherent uncertainties in economic trends and business risks.
- The current financial year comprises 52 trading weeks to 26 July 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.