1 Day
Source:
The Guardian
Wetherspoon’s issues fourth profit warning
JD Wetherspoon has issued its fourth profit warning in seven months, citing worse-than-expected sales despite the World Cup. The pub chain attributes its struggles to rising costs for food, labor, energy, and property taxes, with like-for-like sales only slightly increasing over the past 12 weeks. Despite hopes for a sales boost from the World Cup, late kick-off times and other economic pressures have hampered performance. The company now expects its net debt to remain around £720 million, with profits likely falling short of forecasted earnings.
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