Yahoo Finance Pubs boom in post pandemic outbreak of 'breakdancing' says Wetherspoon's boss
The Great British Pub is back, says no less an authority than the founder and chairman of JD Wetherspoon.
Tim Martin, now Sir Tim, says sales have recovered from the gloomy pandemic days and that profits for the year will be at the top of City expectations.
Like-for-like sales increased by 5.2% in the 13 weeks to 28 April 2024, compared to the same period last year. Year-to-date (YTD) like-for-like sales increased by 8.3%.In a statement to the City today he said: “Traditional ales, which were very slow in the aftermath of the lockdowns, are increasing momentum, with Abbot Ale, Ruddles Bitter and Doom Bar showing good growth, as indeed are ales from the many small and micro brewers with which we trade. The gods of fashion have smiled upon Guinness, previously consumed by blokes my age, but now widely adopted by younger generations.”
The ebullient Martin added: “Sales of Lavazza coffee are also increasing. Free refills are thought to be responsible for spontaneous exhibitions of breakdancing among retired customers.”
His remarks come days after Heineken said it would spend nearly £40 million on re-opening 62 pubs and sprucing up other “tired” locals. The lager maker owns 2400 pubs through its Star pubs arm.
Wetherspoons has beefed up its food offering.
"Our new menu, launched last week, has had a promising start, with some kindly reviewers comparing new dishes favourably with respected competitors,” says Sir Tim.
Wetherspoon’s has long complained about the tax disparity between supermarkets and pubs.
Sir Tim added: "Also selling well among younger generations are Au Vodka from Swansea and XIX flavoured vodkas, the latter promoted by the hugely popular Sidemen. Wine has been on the comeback trail, with Villa Maria Sauvignon Blanc, from New Zealand, popular among Wetherspoon representatives of the chattering classes.”
