Wetherspoons’ Tim Martin sticks by Heineken pub snub in the City after brewer halts beer supply to Dun Laoghaire site December 9, 2014 We love a good bar brawl in The Capitalist and Wetherspoons’ Tim Martin has just smashed a metaphorical bottle over Heineken’s head. Following Heineken’s refusal to sell Heineken and Murphy’s Irish Stout in the British pub chain’s latest Irish outpost, in Dun Laoghaire (because of the below average price point), Wetherspoons’ mulleted founder and chairman [...]
Wetherspoon ends drinks deal with Heineken after supply row December 9, 2014 Wetherspoon is waving bye-bye to Heineken and will pull the brewer's products from all of its 926 pubs, following a fall-out over pricing in Ireland. Wetherspoon said on Tuesday that the Dutch brewer had refused to supply Heineken lager and Murphy's stout to its new pub in Dun Laoghaire, Dublin. The group also said that Heineken had [...]
Ed Miliband re-launches PM campaign with new battle against zero-hour contracts November 17, 2014 Businesses and unions are digging in for an election-year battle over zero-hour contracts and what they mean for workers Ed Miliband re-launched his campaign to be the next Prime Minister last week, with a new attack on zero-hour contracts and the treatment of workers. Businesses hit back immediately, arguing the contracts give workers flexibility, allow [...]
Sunny autumn boosts sales for Wetherspoon’s November 5, 2014 British pub chain JD Wetherspoon has recorded a like-for-like sales increase of 6.3 per cent in its first quarter of the year, with total sales up 11.3 per cent. The sales increase came despite October being a drag on the quarter’s figures, as like-for-like growth decreased over the month. JD Wetherspoon founder and chairman Tim [...]
Manufacturing figures point to slower growth – London Report November 2, 2014 MANUFACTURING figures due out today are likely to show a loss of momentum in the UK economy’s growth. The manufacturing purchasing managers’ survey for October is forecast to sit at 51.5, the same as for September and weaker than the rates of 52.2 in August and 54.7 in July. A reading of 50 shows no [...]
Here’s how a campaign to slash VAT cut the price of today’s pint September 24, 2014 The price of food and drink in 15,000 pubs and restaurants was cut by 7.5 per cent today as businesses came together to show the benefits of cutting VAT. Unfortunately the cut is a temporary one. Wetherspoons has reduced the price a pint of John Smith’s from an average £2.29 to £1.83 and a plate [...]
Best of the Brokers for 15 September 2014 September 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com JD WETHERSPOON Investec has kept its “buy” rating, but upped the target price to 885p from 870p. The broker says full year results were just ahead of expectations, and that cash generation remains strong, while the current year has started well with a [...]
JD Wetherspoon share price up as boss claims VAT “biggest danger to pubs” September 12, 2014 JD Wetherspoon has reported record sales and profit in its full-year results, yet founder and chairman Tim Martin has described the government's VAT on pubs as a danger to the industry. Shares in the company have risen 1.31 per cent in early morning trading. Profit before tax and after exceptional items was up [...]
London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]
City Moves for 04 August 2014 | Who’s switching jobs August 3, 2014 Sovereign Land The retail and leisure developer and asset manager has announced the appointment of Thomas Mallindine as a senior asset manager. He previously worked at M&G Real Estate for five years, most recently as investment manager, retail and institutional funds. Kingston Smith & Partners The corporate recovery and insolvency arm of Kingston Smith, the accountancy [...]