All JD Wetherspoon articles – Page 8
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Analysis & Insight
J.P. Morgan on the UK pub sector
Although PM Boris Johnson’s speech on Sunday appeared to create more confusion around broader re-opening plans, hopes have been raised about select openings at some point in July for the broader “hospitality” industry. While we are unsurprisingly left with more questions than answers, we thought a quick piece was merited to highlight our views, recent investor feedback, what we’re watching for re-openings, and some incremental news in the last two weeks.
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NewsWetherspoon raises £141m
JD Wetherspoon has raised funds of £141m through the placing of 15,668,430 new ordinary shares, which it will use to secure the business through the coronavirus crisis.
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OpinionDominic Walsh on Wetherspoon and Cote
Tim Martin likes to plough his own unique furrow. From his penchant for attending City results presentations in chinos - or even shorts – to his mullet hairstyle and his love of rubbing the establishment up the wrong way, the JD Wetherspoon founder loves nothing better than to fan the flames of controversy. Among the issues that have particularly got his juices going over the years have been the euro, taxes, corporate governance and, of course, Brexit. On most of these subjects Martin has managed to navigate a course that has burnished his “man of the people” credentials, firmly established during 41 years of serving the cheapest food and drink in town.
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Analysis & InsightOne in three will eat out less post-lockdown
Almost a third of consumers have said they will eat out less frequently than they did pre-coronavirus when the lockdown period ends, new research by CGA has revealed.
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NewsJDW agrees to pay furloughed staff
JD Wetherspoon has reversed a decision to withhold staff pay until a government rescue package kicks in.
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NewsJDW asks suppliers for payment moratorium
JD Wetherspoon boss Tim Martin has asked suppliers for a moratorium on payments until the business’ massive pub estate reopens to the public.
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NewsJDW accused of abandoning staff
JD Wetherspoon has been accused of abandoning its 43,000 staff after boss Tim Martin insisted the chain could not afford to pay them during the coronavirus crisis until the company was reimbursed for their wages by the government.
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NewsJDW: ‘If pubs shut, the levels of Government support won’t matter’
Wetherspoon plans to keep pubs open “even under extreme duress,” as chairman Tim Martin warned that should they shut, the levels of Government support for employees will be inconsequential to job losses.
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NewsWetherspoon able to maintain operations in time of uncertainty following strong H1 results
Wetherspoon has “sufficient liquidity to maintain operations at a substantially lower level of sales,” said chairman Tim Martin in a statement regarding its H1 financial report.
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NewsInterest rate cut to 0.1% amid turmoil for listed restaurant and pub groups
The Bank of England has cut interest rate to 0.1%, while announcing £200bn of quantitative easing.
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NewsJDW: Dutch approach in tune with ‘robust instincts of the nation’
Wetherspoons chairman Tim Martin has described the government’s de facto lockdown as a “tactical error”, and called for it to adopt the Dutch position.
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NewsListed groups make heavy losses amid coronavirus bloodbath
Listed restaurant and pub suffered a day of carnage today as the coronavirus outbreak took its toll on operators’ share prices.
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NewsJDW more affected by weather than health scare
J D Wetherspoon has reported like for like sales up by 3.2% in the six weeks to 8 March 2020, saying it had been more adversely affected by poor weather than by the coronavirus health scare.
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Analysis & InsightSteve Gotham: The devil in the detail on outlet growth
Outlet numbers are a critical metric we closely study within MCA’s Operator Data Index. Recently we rechecked December 2019 numbers, reassessed growth trends and reviewed outlook announcements from operators, ahead of producing our own forecasts of expansion/contraction across 250 leading casual dining brands.
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NewsTim Martin warns of EU boycott
Tim Martin has again blasted the EU and said the UK will not be “fooled by a deal that fails to achieve a real restoration of democracy”. And he suggested the public will boycott EU products if any deal ties the UK to EU laws, or fails to regain fishing rights. “If the public is tricked or cajoled it will have the power to drive imports from France and Germany down to zero, irrespective of any agreement,” said Martin.
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NewsShare of visits and average spend up at leading pub brands
The total share of pub visits and average spend increased at every day part in Q4 2019, MCA’s Pub Brand Monitor reveals.
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NewsSteve Gotham: Recovering confidence and and accelerating growth in 2020
Encouragingly for most, MCA predicts that 2020 will see stronger net physical increases in store portfolios across the majority of leading operators.MCA’s Operator Data Index includes over 350 branded operators with five or more outlets at December 2019. These stretch across the full spectrum of the market and account for close to 27,000 outlets which claimed modest overall year on year growth of just under 1% in 2019. We are expecting this growth rate to double to 2% in December 2020, with over 500 net new outlets to open, equating to 11 per week.
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Analysis & InsightA stock-take on physical expansion
A stock-take on physical expansion – Review of 2019 risers and fallers
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NewsRetailers’ Retailer full nominees list revealed
The finalists for MCA’s Retailers’ Retailer Awards 2020 have been announced, with the cohort reflecting a diverse and vibrant range of eating and drinking out operators.
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NewsPaying Tribute
Having joined the company as an apprentice in 1980, St Austell Brewery’s CEO James Staughton officially bows out on 31 January after an impressive four decades at its helm. Here, he shares a slice of his Cornish past with Stuart Stone and chews over his hopes for the future