JDW’s trading performance (for 14 weeks ended 6 November 2022) was in line with our expectations. Compared with 2019, lfl sales improved by 0.4%. However, the stock price slumped c.7% as investors are concerned about slowing trading momentum during October. Further closure of pubs is also not a favourable indication for punters. We expect sales and margin pressure to worsen during FY22/23. The stock’s valuation remains attractive at the current level.
09 Nov 2022
Decent Q1 lfl sales; investors concerned by weak October
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Decent Q1 lfl sales; investors concerned by weak October
J D Wetherspoon plc (JDW:LON) | 728 -90.9 (-1.7%) | Mkt Cap: 899.4m
- Published:
09 Nov 2022 -
Author:
Nishant Choudhary -
Pages:
3
JDW’s trading performance (for 14 weeks ended 6 November 2022) was in line with our expectations. Compared with 2019, lfl sales improved by 0.4%. However, the stock price slumped c.7% as investors are concerned about slowing trading momentum during October. Further closure of pubs is also not a favourable indication for punters. We expect sales and margin pressure to worsen during FY22/23. The stock’s valuation remains attractive at the current level.