FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
Wetherspoon on track for ‘record’ year as budget boozer shrugs off inflation woes May 10, 2023 JD Wetherspoon is expecting a “record” high in sales this year as the budget pub chain shrugs off inflationary and supply chain woes, sending its shares – with the company’s shares soaring over seven per cent when markets opened this morning. The London-listed boozer said that sales during the Easter week were the highest-ever for [...]
FTSE 100 close: London index falls as investors react to mixed retail figures, JD Wetherspoon and Tui March 24, 2023 London’s FTSE 100 index closed 1.31 per cent lower today as investors failed to be enthused by data showing the UK’s economy is faring better than expected following the Bank of England’s (BoE’s) decision to hike interest for the eleventh time in a row. The capital’s premier index fell 1.05 per cent to 7,424.71 points [...]
Tim Martin’s JD Wetherspoon blames ‘ferocious’ inflation for profits plummeting 91 per cent March 24, 2023 The chief of JD Wetherspoon has said blamed “ferocious” inflationary pressures in the pub industry as the pub giant reveals a 90.9 per cent loss in profits for the 26 weeks to January. As the cheap beer chain felt the hangover from Covid-19 and Brexit supply issues, pre-tax profits were down to £4.6m compared to [...]
Pressure mounts on Sunak over planned six per cent rise in corporation tax February 20, 2023 Prime minister Rishi Sunak is facing down the prospect of a rebellion over next month’s budget as renewed pressure mounts over a planned increase in corporation tax increase. Seven top Tory backbenchers and business owners including Wetherspoons boss Tim Martin have urged Sunak and chancellor Jeremy Hunt to scrap the planned six per cent rise. [...]
Egg supply crisis: Tesco introduces buying limits as JD Wetherspoon changes menu November 22, 2022 Tesco is the latest chain to introduce limits on egg purchases owing to shortages and high costs. The supermarket told Morning Wire it is introducing a limit of three boxes per customer to prevent shelves going empty. This comes after the British Egg Council warned the public that a the industry has been dealing with [...]
JD Wetherspoon sales lift as budget chain ‘one of few winners’ amid economic crunch November 9, 2022 JD Wetherspoon posted buoyant sales for the first quarter, although it said demand had softened slightly in October. Shares dropped by as much as eight per cent, after the company admitted October trading had been slightly slower than expected. Like-for-like sales were 9.6 per cent higher than the same period last year, with the pub [...]
To win over the bond market, it has to be Dishy Rishi October 23, 2022 Tim Martin is the CEO of JD Wetherspoon In selecting the next Prime Minister, MPs need to bear in mind that the terrible twins, the bond market and inflation, feeling increasingly disrespected by central bankers and politicians , are angry and emotional – and are watching their every move. The mere revelation on Friday that [...]
Last orders: Pub numbers sink amid calls for further support October 10, 2022 The number of pubs vanishing from communities in England and Wales increased by 50 per cent in the last three months, according to new data, amid warnings that more must be done to protect the great British institution. During the three months to the end of September, 150 pubs were either demolished or converted into other [...]
Tim Martin hits out at UK’s Covid policies as Wetherspoons sales linger below pre-pandemic levels October 7, 2022 JD Wetherspoon chairman Tim Martin has hit out at the UK’s Covid restrictions after warning the pub group is still suffering from the adverse effects of Covid-19. The pub company said its sales had failed to return to pre-pandemic levels as it posted losses of £30.4m for the past financial year, on the back of [...]