Business
Trading Update Announcement
J D Wetherspoon plc reported a 4.7% increase in like-for-like sales for the 25 weeks ended 18 January 2026, with bar sales up 6.9% and food sales up 1.3%, though hotel room sales saw a slight decrease of 0.7%. The company anticipates full-year interest costs around £47 million excluding IFRS 16, with debt levels projected between £740 million and £760 million by the end of FY26. Wetherspoon has opened six new pubs year-to-date and plans for 15 openings in the current financial year, alongside eight franchised pubs opened and an expectation of 10-15 more. Despite sales growth, increased costs for energy, wages, repairs, and business rates, totalling £45 million in the first 25 weeks, are expected to result in profits for the first half being lower than the previous year, and the full-year trading outcome is anticipated to be slightly below FY25 levels if current sales momentum continues. Disclaimer*
About this update from J D Wetherspoon Plc
[{"type":"text","content":"\n\n21 January 2026\nJ D WETHERSPOON PLC\nTrading Update Announcement\n \nJ D Wetherspoon plc ('Wetherspoon' or 'the company') announces an update on current trading and possible full year outlook.\n \n \nCurrent trading\nIn the 25 weeks to 18 January 2026, like-for-like (LFL) sales were +4.7% higher than the same period a year ago. Bar sales increased by +6.9%, food by +1.3% and slot/fruit machines by +9.1%. Hotel room sales decreased by -0.7%.\nLFL sales for the last 12 weeks of the 25-week period (the second quarter of the financial year) were +6.1% higher than the same period a year ago.\nTotal sales have grown by +5.3% in the year to date.\nLFL sales for the main Christmas period, the three weeks from 15th December 2025 to 4th January 2026, were +8.8%.\n \nFinancing\nInterest costs for FY26, excluding IFRS 16 notional interest, are expected to be around £47 million (2025: £49 million). Including IFRS 16 notional interest, the annual interest cost is expected to be c£60 million.\nDebt levels at the end of FY26 are currently expected to be between £740 million and £760 million (FY25: £724 million).\nIn the YTD, the company has purchased 2,770,750 of its own shares for cancellation at an average price of £7.22 a share.\n \nProperty\nIn the year-to-date, the company has opened six pubs - at London Bridge station, Merchant Square in Paddington, Kenilworth, Basildon, Wetherby and Beaconsfield. The company anticipates opening a total of 15 pubs in the current financial year.\nSix pubs have been sold in the year, giving rise to a net cash inflow of £3.3 million. The company currently has a managed trading estate of 794 pubs.\nIn addition, eight franchised pubs have opened in the year-to-date, bringing the total number to 16. A further 10-15 are expected to open in the rest of the financial year, including the company's first opening in mainland Spain, at Alicante Airport.\n \nInterim results\nThe interim results for the six months ending 25 January 2026 are expected to be announced on 20 March 2026.\n \nOutlook\nWetherspoon chairman Tim Martin said:\n\"We are pleased with the sales growth in the financial year, and with the increased momentum in the second quarter.\n\"Costs have been higher than anticipated, with energy, wages, repairs and business rates, for example, increasing by £45 million in ...