Pub chain blames worse-than-expected sales on rising costs for workers, food, energy and property taxes
JD Wetherspoon has issued its fourth profit warning in seven months, with the pub chain blaming worse-than-expected sales, despite the World Cup, as it struggled with rising costs for food, workers, energy and property taxes.
Shares in the pub chain tumbled 10% on Wednesday morning as its chair, Tim Martin, warned that profits would fall short of forecasts when it reports full-year earnings in October.
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This article was originally published by The Guardian and written by Kalyeena Makortoff.
Read original article on The Guardian