JD Wetherspoon issued its fourth profit warning in seven months, attributing it to worse-than-expected sales, despite the World Cup, and rising costs for food, labour, energy, and property taxes. Shares in the pub chain tumbled 10% on the news.
Chair Tim Martin says pub chain could miss expectations, in latest sign UK hospitality sector buckling under higher billsBusiness live – latest updatesThe boss of JD Wetherspoon has said the pub chain could miss profit expectations because of rising costs, in the latest sign the UK hospitality industry is buckling under the pressure of higher energy, food, labour and tax bills.The company’s chair, Tim Martin, told investors on Wednesday: “As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs.” Continue reading...
