Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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One of my local Wetherspoons has just closed, and it always seemed full over the day. However, a lot of customers weren't eating meals or drinking beer, they were drinking tea and coffee. And really Wetherspoons should install token-operated tea and coffee machines, and just give one or maybe two tokens for the cash. I have had it on the good authority of a coffee burglar that people take the mug home in their pocket and come back repeatedly for free drinks. Others hand the mug to somebody else before they go. I've seen this myself. Others sit in groups, and then it's "your turn for the mug now". It is Wetherspoons that is the mug in these cases. The staff could try putting the mugs out at the beginning of the day, and see how many have come back at the end of the day. It's all right to say "it's only a pound or £1.50 a mug", multiply that by a thousand, and anyway it's the principle. Other pubs don't act as a shelter for bums in cold weather.
That would seem to be a local management issue. I am sure Mr Martin and shareholders would not like to see this practice becoming common. Out of interest, in what part of the UK is this taking place?
Sterr & accip, this abuse could be cured if staff cleared tables sooner. You often go in to find used glasses, half-eaten plates of food (why do they order so much, smaller dishes available?) and, yes, beverage mugs that could be re-used fraudulently. Some of this is idle staff, more is bad management; but for profit reasons the staffing can be very thin, as the margins are thin. It's a fine line, what makes more profit, stopping beverage fiddles or a lean wage bill?
However, customers who might leave a chunk of cash behind would be attracted by clear clean tables and rapid bar service. A recent experience was of 3 bodies behind the bar only 1 of which served live customers, the others doing online orders stocktaking and clerical functions. Trade was light but it only took a complex food order to cause a big delay. Only customers with possession of their order are actually making us profit, until then they just use space for no return.
Sterr, a token system would require staff time. I think the reason for refills at all is that serve-yourself is cheaper than employing to serve.
@milnrowmug. Yes a staffing issue in part but JDW management must be aware of this practise being widespread. I wouldn't know how to raise this to director level but it needs to be done if this is, or has the potential to become more than a minor loss on the bottom line.
My old gran used to say, "take care of the pennies and the pounds will take care of themselves". Take note JDW.
Weather is warming up a little outside seating picking up here in our 3 local Spoons,
Splitting hairs over coffees costing 5-10p each is penny wise and pound foolish
But...Sod all Dividends, Tim's using any profits to pay & brag about staff bonuses, ignoring share holders, not a good idea. Who's going to invest to get nothing back but a drop in SP?
Yes thang, divi is the weak spot. I expect there will be some presently, given Tim's holdings. Agree bigpu, adding staff time to the coffee production cost would be out of proportion, and keep them from more profitable activity.
Accip, although I agree with bigpu in this commercial context, MY gran used to say exactly the same; was it on the syllabus at Granma School?
She left school at 12, while the thick kids who couldn't pass an English and maths test stayed to 13. Her job was at a main rail terminus, which in 1914 gave experience of troop movements, before and after. What a generation! 2 world wars, 1 world cup, votes for women, general strike, means test, atomic weapons. We really don't have it so bad; you can get four pints for hourly minimum pay, or, apparently, free coffee.
Thought staff got shares and pretty sure most keep them.
IMO difficult times will come to an end and with a longterm view still an opportunity.
Yes I believe they do tiger, especially the long-term ones. That is another reason to get some divi paid, or they will merely encash.
Yes a lack of dividend holds the share price down. However a lot of refurbishments were put on hold during Covid, the financing remains a cloud (although it doesn't bother me one jot) and Tim is clearly battle hardened and you would think is building a war chest to deploy in case of further government disruption
An aggressive approach by an institutional investor would boost the share price although I would be happy if they plodded along building their hotel estate
Yes, developing their hotel estate makes every sense. Years ago I worked for a company that owned Crest hotels and, at the time, their standard room rate was £35 a night. The cost per night was booked at £5, some margin. That company today is Intercontinental Hotels (IHG).
The Daily Express gave good friendly write up to Tim today. Must have helped the SP. Hotels are the way to go. I very much regret selling my Whitbread shares some years ago.
gret
JDW will never be like Whitbread because Tim loves a building with historical importance within its town or city, rather than outskirts prefabs. If JDW competed with Whitbred I am certain they would win
However we have recently seen the holiday park tenancy so never say never