Best of the Brokers for 09 September 2013 September 8, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com JD WETHERSPOON Panmure Gordon has reiterated its “buy” rating and target price of 806p for Wetherspoons, which is due to report its full-year results on Friday. The broker expects the pub chain to report a “solid” two per cent growth in like-for-like sales [...]
London Report: UK retailers set to reveal if tills ringing again September 8, 2013 RETAILERS are set to reveal this week how big an impact the UK recovery is making as consumers return the shops. Reports from Dunelm, Home Retail, Morrisons, Next, Ocado and Sports Direct will show how confident buyers are in the improving economy. Ocado, which will update the market on Thursday, was rated a “buy” by [...]
Beer shortage threatened by union walkout September 5, 2013 DRINKERS could be left without their post-work pint next Wednesday, after union barons yesterday announced plans to disrupt beer deliveries in a dispute over pay and conditions. Unite, Britain’s biggest trade union, said supplies to 30,000 drinking establishments would be affected when employees of distributors KNDL walk out for 24 hours. Draymen and warehouse workers believe that [...]
Best of the Brokers for 31 July 2013 July 30, 2013 JD WETHERSPOON Deutsche Bank has maintained its “hold” rating on the value pub chain but raised its target price from 520p to 660p after better than expected final-quarter figures. The analyst notes improved sales with cautious optimism, although performance has been volatile, with 14 forecast changes in three years. GEM DIAMONDS Charles Stanley has reiterated [...]
Wetherspoons more bullish as UK pub-goers’ mood improves July 24, 2013 JD WETHERSPOON raised its profit forecast yesterday and said it plans to accelerate pub openings thanks to a recovery in margins and a more upbeat mood among customers. The pub chain’s 800 pubs have helped cash-strapped consumers ride out the downturn with promotions like curry clubs and “beer and a burger” bargains. Like-for-like sales rose [...]
Wetherspoons expects better outcome for the year as sales rise in second quarter July 24, 2013 Pub chain Wetherspoons has seen total sales rise by 6.2 per cent in the 11 weeks to 14 July, with like-for-like sales up 3.5 per cent (release). The firm has opened 29 firms since the start of the financial year, and sold three, with plans to open around 30 in the next financial year. The [...]
Wetherspoon costs increase January 16, 2013 JD WETHERSPOON outpaced rival operators during Christmas, the pub chain reported yesterday, with like-for-like sales rising eight per cent over the festive period. However, a surprising hit to profit margins spooked City investors. The company, which runs over 800 pubs, said margins were around 8.2 per cent, which is 1.1 percentage points lower than last year, due [...]
The Tipster | Punch Drunk January 14, 2013 ALTHOUGH shares in J D Wetherspoon are up by 24 per cent over the last year, continued pressure on its margins, and no major sporting events in 2013, mean that it may not be a cheerful year for the pub chain. ETX Capital quotes a price of 516.22p-519.78p. Shares in ASOS more than doubled in 2012. [...]
UK consumer price index is forecast higher January 13, 2013 UTILITY prices are expected to have lifted the UK’s consumer price index (CPI), the household spending index due out tomorrow along with a swathe of housing and retail data. “We expect CPI inflation to have edged up to 2.8 per cent year on year in December from 2.7 per cent, and retail price index (RPI) [...]
Hunger for profits takes a bite from Chiquito owner’s shares January 9, 2013 THE FTSE 100 is at a four-year high, but you’d still have been better off plumping for mid-range dining rather than blue chip heavyweights over the last six months. The index hasn’t even managed a 10 per cent increase since mid-July, but the Restaurant Group’s shares have risen some 30 per cent over the same [...]