Wetherspoon Shares Surge 8% Amid Strong Sales and Profit Outlook
By EC Assets · Published
J D Wetherspoon shares jumped 8% today. This movement followed reports of strong sales supporting the pub operator's profit outlook. The company's full-year results are also due today. Previous periods have shown different trends for the pub group. J.D. Wetherspoon shares reached two-year lows after the operator reported slower sales growth over the last week of its first half. The company also issued a cautious outlook at that time. Additionally, the group was downbeat about the next fiscal year after third-quarter sales declined. That decline prompted brokers to cut their forecasts and led to a fall in the company's shares. The company previously faced a profit warning in July. Market observers are focused on whether sales growth can overcome soaring costs. They are watching for potential margin squeeze and the cost outlook. European shares edged higher today after a bonds-driven selloff. Focus remains on inflation data. Asian shares fell following wild swings in bonds and foreign exchange, with U.S. jobs data looming. Investors will monitor the company's full-year results for further details. These results are expected on 2 October. This article is intended for informational purposes only. It does not constitute investment advice.
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