Wetherspoon reports ‘highest ever’ staff retention rates

J D Wetherspoon revealed its staff retention was at its “highest ever level” as the pub giant hit “record levels” of total sales.

According to its pre-close trading update, some 11,066 staff, an average of 14 staff per pub, have worked for the company for five years or more. Almost 4,000 (3,895) have worked there for 10 years, while 632 have worked there for 20 years. 

It comes as J D Wetherspoon reported like-for-like sales increased by 5.8% in the 10 weeks to 7 July 2024, compared to the same period last year. Year-to-date like-for-like sales have risen by 7.7%.

This amounts to a 21% increase in sales per pub compared to pre-pandemic levels, which has helped to offset additional pressures from rising labour costs (by roughly £164m), energy costs (by £28m), repairs (by £38m) and interest (by £16m).

In the year-to-date, Wetherspoons opened two pubs and sold or surrendered 26 pubs that were smaller, older or based near an existing venue, which brought £8.7m in cash into the business.

It is also due to open new pubs in London’s Fulham Broadway station, Marlow in Buckinghamshire and London Waterloo station, which could rival BrewDog’s 27,500 sq ft flagship bar.

Tim Martin, chairman of J D Wetherspoon, said: “The gradual recovery in sales and profits, following the pandemic, has continued in the current financial year. Total sales are, again, at record levels, with fewer pubs.

“Notwithstanding these cost pressures, the company continues to endeavour to ‘widen the moat’ by investing in areas such as beer gardens, staff rooms, above-bar glass racks and improved beer dispense systems.”

He has also called on the new chancellor, Rachel Reeves, to narrow the tax inequality between pubs and supermarkets.

He said: “The average Wetherspoon pub has generated taxes of one sort or another of £7m in the last 10 years, as well as generating considerable employment and social benefits. The last government failed to implement tax equality between pubs and supermarkets, leading to pub closures and underinvestment.

“Wetherspoon hopes that the current chancellor, with a Bank of England pedigree, will understand how many beans make five, and rectify this inequality.”

In response to the results, Julie Palmer, partner at Begbies Traynor, added: “In an era where the cost-of-living crisis remains sobering, Wetherspoon’s affordable offering is clearly still a very popular choice for pubgoers seeking value.

“Despite some shoddy weather, this summer’s sporting events are second to none with both the Euros and the Olympics to entice the nation back into the pub, and with England through to the semi-finals, that’s something which Wetherspoon’s will be enjoying across the chain’s 800 plus pubs.”