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J D Wetherspoon (JDW) investor relations material
J D Wetherspoon Trading update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading performance
Like-for-like sales rose 4.0% in the 12 weeks to 19 July 2026 and 4.2% year-to-date.
Eight new pubs opened and nine sold in the year to date; 793 managed pubs now operated.
Fifteen franchised pubs opened year-to-date, bringing the total to 23.
Financial position
6,402,368 shares repurchased for cancellation at an average price of £6.52 per share.
Four pub freehold reversions acquired for £12.2 million, total spend since 2011 now £489 million.
Year-end net debt expected to be £720 million, consistent with last year.
Outlook and guidance
Full-year profits expected to be below market expectations due to slightly lower sales in the final quarter and higher costs in food, labour, repairs, energy, and business rates.
Preliminary results scheduled for release on 2 October 2026.
- Sales growth remains robust, but rising costs may pressure profits below expectations.JDW
Q3 2026 TU6 May 2026 - Revenue up 5.7% year-over-year, but higher costs pressured margins and profit.JDW
H1 202620 Mar 2026 - Strong sales growth offset by rising costs, leading to a cautious full-year outlook.JDW
Trading update21 Jan 2026 - Profit before tax surged 73.5% on 5.7% revenue growth, but free cash flow fell sharply.JDW
H2 202413 Jan 2026 - Sales growth and strong trading support profit expectations, with expansion planned.JDW
Q4 2025 TU13 Jan 2026 - Revenue up 3.9% but profit margins pressured by rising costs; dividend reinstated.JDW
H1 202513 Jan 2026 - Sales growth continues, but rising labour costs and debt pose challenges for the year ahead.JDW
Q2 2025 TU13 Jan 2026 - Sales rose 5.6% in the quarter, with continued investment and cautious outlook.JDW
Q3 2025 TU13 Jan 2026 - Sales up 3.7% year-over-year, with continued outperformance but cautious outlook.JDW
Q1 2026 TU5 Nov 2025
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