Wetherspoon (J.D.) (JDW): Profit warning
This situation live
JDW Wetherspoon (J.D.)
20 Mar 2026 · profit warning · -10% on the day · +6% until the next step
This may result in profits that are slightly below current market expectations. The forecast for year-end net debt remains unchanged.
6 May 2026 · profit warning · +1% on the day · +22% until the next step
As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs, which may result in profits slightly below market expectations.
22 Jul 2026 · profit warning · third in 12 months · +42% since
Profits for the year are likely to be below market expectations, with marginally lower sales than anticipated in the final quarter, combined with higher costs in the areas of food, labour, repairs, en
Profit warning
profit warning · third in 12 months
Directionbelow expectations / warning
Reaction on the day−4%
In 12 months3 statements in the same direction
Company's wordsProfits for the year are likely to be below market expectations, with marginally lower sales than anticipated in the final quarter, combined with higher costs in the areas of food, labour, repairs, energy and business rates. ↗
As of 22 Jul 2026 ↗
Since Oct 2023: 1145 situations of this kind; median share price +0% six months after they opened
NOV4
Next: Next trading update; FY27 profit versus £74m consensus in 10 days
Every step · 3
- 20 Mar 2026 profit warning · -10% on the day – This may result in profits that are slightly below current market expectations. The forecast for year-end net debt remains unchanged. ↗
- 6 May 2026 profit warning · +1% on the day – As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs, which may result in profits slightly... ↗
- 22 Jul 2026 profit warning · third in 12 months – Profits for the year are likely to be below market expectations, with marginally lower sales than anticipated in the final quarter, combined with higher... ↗
What is happening
Wetherspoon (J.D.): Profit warning – profit warning · third in 12 months. ['profit warning · third in 12 months']
- In short
- Since January the company has flagged £45m of unexpected extra costs and cut its profit view several times. The 22 July pre-close update puts profit below market expectations, citing marginally lower final-quarter sales and higher food, labour, repairs, energy and rates costs. Sales growth is still not reaching profit.
- Announced
- 20 Mar 2026 · profit warning · -10% on the day
- Latest
- 22 Jul 2026 · profit warning · -4% on the day
- Guidance
- Full-year profit likely below market expectations
- Cost areas
- Food, labour, repairs, energy and business rates
- Q4 LFL sales
- +4.0% in 12 weeks to 19 July 2026; year to date +4.2%
- Net debt
- £720 million expected at year end, in line with last year
What comes next
Next trading update; FY27 profit versus £74m consensus (4 Nov 2026).
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