Wetherspoon's LFL sales shift into reverse
Like-for-like (LFL) sales in the first half of its financial year rose 2.1% on a year-on-year basis at pubs group JD Wetherspoon, but the group confessed that trading in the six weeks to 4th March has been disappointing, with LFL sales declining 0.7%.
Like-for-like (LFL) sales in the first half of its financial year rose 2.1% on a year-on-year basis at pubs group JD Wetherspoon, but the group confessed that trading in the six weeks to 4th March has been disappointing, with LFL sales declining 0.7%.
"As previously stated, we expect the operating profit margin before exceptionals to decline in the second half of this financial year due to continuing cost increases, with the current quarter particularly affected. We are, therefore, slightly more cautious about the potential outcome for the current financial year," revealed Tim Martin, JD Wetherspoon's Chairman.
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