JDW’s Q2 trading performance was slightly below our expectations. The lfl decline (-15.6%) is quite weak vs competitors such as M&B. Perhaps, JDW’s higher concentration in urban areas and operating as a ‘value player’ have been detrimental to its H1 earnings (guided to be in the red). However, there are no structural issues and the publican should rebound with normalisation after the pandemic-led restrictions. The stock price is already beaten against this weakness. No change in the stock recomm ....
20 Jan 2022
The COVID-19 induced pain continues!
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The COVID-19 induced pain continues!
J D Wetherspoon plc (JDW:LON) | 736 92 1.7% | Mkt Cap: 909.6m
- Published:
20 Jan 2022 -
Author:
Nishant Choudhary -
Pages:
3
JDW’s Q2 trading performance was slightly below our expectations. The lfl decline (-15.6%) is quite weak vs competitors such as M&B. Perhaps, JDW’s higher concentration in urban areas and operating as a ‘value player’ have been detrimental to its H1 earnings (guided to be in the red). However, there are no structural issues and the publican should rebound with normalisation after the pandemic-led restrictions. The stock price is already beaten against this weakness. No change in the stock recomm ....