Achi news desk-
Total sales increased by 3.3% in the quarter and 6.5% in the year to date.
Mr Martin gave an insight into a product that has been selling well at the Wetherspoon estate, and declared that “free Lavazza coffee refills are believed to be responsible for spontaneous break-dancing displays among retired customers”.
He said: “Sales continued in the period with the steady recovery from the pandemic. Traditional beer, which was very slow following the locks, is gaining momentum, with Abbot Ale, Ruddles Bitter and Doom Bar showing good growth, as well as beers from the many small and micro brewers we trade with. them.
“The fashion gods have smiled on Guinness, which used to be consumed by people my age, but is now widely adopted by the younger generations. Also selling well among the younger generations are Au Vodka from Swansea and XIX flavored vodka, the latter promoted by the hugely popular Sidemen.
“Wine has been on the comeback trail, with Villa Maria Sauvignon Blanc, from New Zealand, popular with Wetherspoon representatives from the conversation classes.
“Sales of Lavazza coffee are also increasing. Free refills are thought to be responsible for spontaneous breakdancing displays among retired customers.”
Russ Mould, investment director at AJ Bell, said: “The thought of caffeine-fueled pensioners break-dancing in the aisles of Wetherspoon pubs can seem like waking from a surreal dream, yet Tim Martin’s tongue-in-cheek comments suggest that he happening across the country.
“Free coffee refills, young people discovering the joys of Guinness and a resurgence in real ale are among the reasons why Wetherspoon says profits could come in towards the high end of market expectations.
“The pub industry has experienced more than its fair share of ups and downs over the years, and the number of pubs has been steadily declining for decades. But one name has managed to keep its head above water and show the kind of resilience and stamina that a marathon runner aspires to, and that’s Wetherspoon.
“His focus on customer value has paid off in spades and is a key reason why he remains one of the last men standing in the sector.
“While it can’t take full credit for the latest drinking trends, it can capture a lot of business by making sure it offers a popular product at competitive prices and ensuring its pubs remain a pleasant place to visit.”
Wetherspoon has around 850 pubs in the UK.
Shares closed up 4.33%, or 31.5p, at 759p.
