JD Wetherspoon issues profit warning despite positive festive sales

Pub group JD Wetherspoon reported an increase in sales following a strong festive period but warned that costs have been “higher than anticipated” and its first half profit is expected to dip.

 

In a trading update, the company reported like-for-like (lfl) sales for the main Christmas period, the three weeks from 15 December 2025 to 4 January 2026, were up 8.8%.

 

The pub group, which currently operates 794 sites, said lfl sales were up 6.1% in last quarter, while in the 25 weeks to 18 January 2026, lfl sales were 4.7% higher than the same period a year ago.

 

Bar sales increased by 6.9%, food by 1.3%, while hotel room sales decreased by 0.7%.

 

Total sales have grown by 5.3% in the year to date.

 

While JD Wetherspoon chairman Tim Martin said the group is “pleased” with the sales growth in the financial year, he warned that profits in the first half are likely to be lower than the comparable period in the previous financial year due to “higher than anticipated” costs for “energy, wages, repairs and business rates”.

 

Martin concluded: “If the current sales momentum continues, the company currently anticipates a full year trading outcome slightly below that achieved in FY25.”

 

In the year to date, the company has opened six pubs, including at London Bridge station, Merchant Square in Paddington and Beaconsfield, while it anticipates opening a total of 15 pubs in the current financial year, including the company’s first opening in mainland Spain, at Alicante airport.

 

Meanwhile, six pubs have been sold in the year, giving rise to a net cash inflow of £3.3m.