While pub operators across the UK have cheered on the Euro football championship as it has boosted sales, Wetherspoon is paying the price for not having televisions in its boozers.
This disadvantage is a complete turnaround from last summer when its pubs had a strong advantage in that they were often bigger than rival outlets in the same area and were better placed to accommodate social distancing measures.
“Wetherspoon also had an established app which meant it could instantly switch to mobile-based ordering from the table, unlike some rivals who had to ship in the technology,” says AJ Bell’s Russ Mould..
“As it stands, Wetherspoon is on track to make a loss for the year to 25 July. Apart from having some TVs in its pubs for the football, there was nothing else it could have really done to boost trade beyond what’s already in place, given how disruptive the year has been.
“Its chairman Tim Martin is never short of something to grumble about, but one cannot find any fault in its long-term business model of offering customers good value for money. Its future will likely follow the same formula – open more pubs, make sure the existing ones are presentable, and offer customers good quality products at affordable prices.
“It might have missed the opportunity for a few quid in the past few weeks, but it has never been one to chase a fast buck.”
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