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Wetherspoonsto reveal strength of demand for pints amid inflation
from Monday 10 July 2023
by cityam
HENRY SAKER-CLARK
PUB CHAIN Wetherspoons is set to shed light on cost inflation and customer spending habits in an update to the markets this Wednesday.
The firm, which runs 834 pubs across the UK, is expected to post another rise in sales as Britons enjoyed drinking in the warmer summer weather.
Investors will be hopeful that the budget pub group could also be a beneficiary of higher pricing elsewhere across the hospitality sector, which has absorbed jumps in the costs of energy, labour and food and drink over the past year.
In its previous announcement in May, the company predicted record sales for the current year as it cheered a strong recent sales performance.
Founder and chairman Tim Martin said “positive momentum” continued into spring but nevertheless warned of continued pressure on the hospitality sector from higher costs.
Like-for-like sales jumped 12.2 per