JD Wetherspoon increases sales by 2.3% despite snow disruption
Despite snow slowing down trade over the Christmas period, JD Wetherspoon has reported that like-for-like sales increased 2.3% in the 25 weeks to 16 January.
In an update prior to its interim results for the first six months of its financial year, Wetherspoon's said that sales profit and cash-flow "continue to be resilient", though higher interest charges following refinancing in March 2010 would affect profits.
It also warned that there were indications of increases in the cost of goods including food, bar purchases, utilities and excise duties.
For the first 12 weeks of the second quarter (to 16 January 2011) like-for-likes sales increased 3%, compared with 1.6% in the first quarter. Total sales increased 8.1%, compared with 1.6%.
Though the company had been hit by the heavy snow, this didn't affect the like-for-like figures as it had suffered the same challenges last year.
The firm has opened 12 new pubs and closed two since the start of the financial year.
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By James Stagg
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