JD Wetherspoon in Olympics sales boost
Pub chain’s quarterly like-for-like sales up 7.1%
By CFOWorld.co.uk staff | CFO UK | Published 13:33, 08 November 12
Bucking the trend noted by certain retailers, the pubs and hospitality chain JD Wetherspoon reported a “significant boost” from the summer Olympics and Paralympics games.
As local pubs struggle, the company’s chain-wide strategy of welcoming families and children via designated eating areas and competitive food prices continued to entice customers.
Its latest figures published on Thursday, indicated that in the three months to 28 October, like-for-like sales rose 7.1 percent.
The company’s total sales rose 11.1 percent. On the back of a strong performance, JD Wetherspoon also announced that it is planning to open another 25 pubs to add to its existing portfolio of 800.
In September, JD Wetherspoon reported an annual pre-tax profit of £72 million; up 8.4 percent.
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