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Tremendous response from JDW on the LSE website. I would encourage others to read it.
Tim Martin is something of a Working Class Hero. That's why the Establishment and their hangers on hate him so much. He is part of the reason I buy into JDW and its success story. I hope he sues these morons.
Https://www.londonstockexchange.com/news-article/JDW/statement-re-press-comment/16318802
I will jump in, down over 3% today… this is the equivalent of the discount supermarket but for the pub/hospitality sector. In tough times Spoons will do okay IMO. Plenty of all day trade with breakfasts etc. It’s not really only just a pub anymore but it’s becoming a British institution.
Although you may not fancy a punt on Wetherspoons shares and perhaps just pop in for the odd pint or two, there are other good reasons to support the company as outlined in City AM.
https://www.cityam.com/an-ode-to-spoons-bastion-cheap-pints-steward-civic-heritage/
I went into our local Wetherspoons last week to sort an issue with a voucher bought as a Xmas gift for someone. It was very quickly sorted by a manager who emerged from the kitchen. Meanwhile during the two minute wait I was amazed how many people were in there eating and drinking. The place was heaving with just half a dozen tables unoccupied but people arriving and joining the wait at the bar. A dozen or more hardies in the smoking shelter out doors too. I bought more JDW this week and will do so next week.
I am also seeing the prices trickle upwards this week, some increases being larger than others. Clearly they are being very methodical in their pricing which is pleasing to see. Staff still waiting to hear about their April pay rise
Good luck indeed, however I don't have my target price where yours is however, due to the dilution with the capital raise, prob 10 to 11 is more like the new comparable high, but good luck.. I'm meant to be going one today, hopefully plan goes to plan
I’ve got quite a few of these
First buying at unlucky £13, pretty much sank from day 1 for me.. I did average down, so I’m in the green
I won’t be selling until this reaches £15, which was my original plan
Could be later in 2024, or may be 25, I can wait .. good luck all
When a hospitality business can confidently say it will hit expectations, that means the money is pouring in. They will just accrue refurb costs to hit the profit number
Got quite a few on this so happy with that
LFL growth above industry average but increased costs affecting pubs more than supermarkets (usual complaint I know but legitimate)
Now has the recent SP rise been in anticipation of this so no rise today?
Spot On. I bought a few more on Monday with an immediate gain despite today's lethargy. in the FTSE. Reinstatement of the divi could be in the cards sooner than we think.
Trading update tomorrow should only bring good news. Pubs are busy,the appeal of a Spoons to all walks of life must be paying off. Despite his critics,Big Tim has navigated Covid,negative press and the fact that he dosen’t always fit in with the City Boys. Most of his senior management seem to have worked for him for along time,you won’t find that at other pub co’s. Share buybacks on top can only help push this onwards. GLA DYOR.
Not to sound patronising but be careful if you must set a stop loss. (I don't use them)
Spoons dropped to 776.5p on 27/12/23 but you won't see that on even the 1 month chart, where the daily price printed at over £8. I'm sure a lot of private investors get shaken out like that, mugged of hard-won profits.
Agreed accip, give them what they want they will come. Remember soft and hot drinks especially good value.
The primacy of jdw is each-way to me: success goes hand-in-hand with the loss of many trad old pubs. Still, I wasn't invested in the trads.
What you say about next budgets might give dearer pubs an edge. Only joking.
Two of my grandchildren 17 & 18, who are at college and have part time jobs tell me how their local Wetherspoons, Poulton le Fylde and Cleveleys respectively are meeting up points for their crew of similarly minded pals. It is cheap and cheerful whereby the 17 year olds leave at 9pm and the older ones can stay longer if they wish. This is perhaps replicated in many other Spoons across the country adding to the impression that most Spoons are rammed from breakfast time right through to kicking out time.
Meanwhile holiday park operator Haven has announced an exclusive agreement with JD Wetherspoon to open pubs at its locations where a captive audience will add many £s to Wetherspoon’s balance sheet. A clever move from the operators and from Wetherspoons and one that will be replicated elsewhere.
The company and the public at large are due to benefit from Hunt’s giveaway budget in March that will include tax cuts for workers and tax cuts for companies, all designed to get the economy moving, putting money into pockets and winning the Tories the election. So desperate are they that a second giveaway budget will probably appear in the autumn.
Summer and eating out at the local pub is not far away. A clear BUY.
100% with you on safe as houses. I would go even further. I'm not selling until 16 like before pandemic.
Taking shares out of the market and forcing a price improvement is an ideal strategy to weaken predatory bids. Just musing….
Safe as houses. Glad to see the back of the pandemic which is anathema to hospitality sector. Finally above 10pc overall and set a so loss accordingly. Will keep putting what I can in until my target of a tenner is exceeded.
Such a good RNS they had to release it twice :) hell of a buy back yesterday, approx £4M worth of shares or 0.5% of the companies shares in issue. Can only think that the tills have been ringing nicely, looking forward to the next trading update, should be a good one IMO
The media in general love to take swipes at both Martin and the company in general. The fact that Wetherspoons is one of the most successful retail companies and employs over 40,000 people is of no nterest to these morons.
Investors, chin up!
The sp is gettto where it should be ....the pubs are rammed
Please share any commercial terms if you know any.....
It appears from Haven's announcement that they are responsible for premises fit-out. You would assume cleaning and any requested repair as well, leaving JDW just doing the food and beverages. Easy money