Wetherspoon ( J.d.) Share Discussion Threads

[standish11] 21/1/2015 09:00

Very downbeat trading update this morning so it is not surprising the shares are reacting negatively. Perhaps more share buybacks will cushion the fall.

[j l] 20/1/2015 20:50

JD Wetherspoon reports tomorrow. Watch the charts of companies reporting tomorrow here:

(SAB,JDW,FGP,HFD,LAND,CCC,PLND)

[gbb483] 19/1/2015 08:06

What a load of waffle. I'm sure the 26 minutes could be condensed to less than 1.

JeffCranbounre 16 Jan'15 - 19:36 - 1001 of 1001 0 0 (Filtered)

[jeffcranbounre] 29/12/2014 15:39

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[gbb483] 22/10/2014 17:24

Ex-div today and still it climbs.

[gbb483] 14/10/2014 17:54

Seeing as the RNS is available for all to access, it always amazes me when idiots repost the entirety just to demostrate their own short comings.

[optomistic] 14/10/2014 16:45

Definitely deserves a big WOW today after the recent days persistent drops!
Keep it up JDW...and tomorrow I will be giving my willing support to Tim Martin's enterprise ;-)

[optomistic] 13/10/2014 17:04

Tim has been busy...good content in todays RNS:

Breaking News - Opinion Special: Tim Martin criticises corporate governance

The ruinous absurdity of corporate governance by Tim Martin

Woof, woof! What's that at the boardroom door? Why, it's the dog that hasn't barked - until now. This corporate governance dog has surreptitiously devoured our major banks and pub companies and has moved on to make mincemeat of our biggest supermarkets. Like Frankenstein, the carnivorous canine has outgrown its corporate governance creators and is munching its way hungrily through our finest companies.

The dog has been lucky so far: corporate mayhem has been blamed on others. Gordon Brown mendaciously blamed bankers' troubles on sub-prime American loans. Others have blamed "hot money", the Bank of England or greedy and incompetent executives, perhaps forgetting that they were appointed through the governance system, which created the dog in the first place.

The travails of our biggest pub companies, for example, beset in recent years by various corporate catastrophes, have been lain at the door of the smoking ban or changing consumer tastes, rather than the governance industry itself. Supermarket troubles have been blamed on aggressive foreign companies, the internet and high prices, but the dog had not been identified, until recently, as the main source of the devastation.

However, the Tesco fiasco may have let the cat out of the bag. One of the greatest absurdities of the governance system is that you can comply with the rules and have, as many companies do, only two executives on the PLC board. If they fall out, or one leaves for any reason, you only have one, and if you're unlucky you may, like Tesco, end up with none, a dangerous void for a major company. In fact, only two or three executive directors is a dangerous void.

The far more widespread malaise though, under the radar until now, is that so-called compliant PLC boards are, in reality, highly inexperienced and unstable. The unholy combination of a majority of part-time non-executives, including the chairman, with a maximum of nine years' tenure, and CEOs who average only four or five institutionalises these weaknesses. A board led by part-timers, with a short-term chief executive, which has very little real contact or knowledge of the worlds of executives and customers, is really a sitting duck in the business jungle.

These weaknesses are compounded by a raft of other governance shibboleths: excessive emphasis on the role of shareholders (the 2012 Code refers to shareholders 63 times, employees three times and customers not at all); performance-based pay, which encourages over-borrowing in order to enhance earnings per share targets; the discouragement of CEOs becoming chairmen, exacerbating the short-term mindset of the former; autonomous board committees, manned by non-execs, operating as remote and detached satellites, clogging up company accounts with jargon-filled reports; remuneration committees which have legitimised huge pay increases; and audit committees which have effectively removed power from executives and have presided over financial Armageddon at our banks and other major companies.

The key to understanding the current problems, pointed out by journalists like Chris Blackhurst and Anthony Hilton, is that the pendulum of governance, designed to prevent Maxwell and Enron-style debacles, has swung too far the other way. The composition of the board of the Financial Reporting Council, which oversees governance, mirroring the non-executives on PLC boards, consists almost entirely of "City" types, with little experience of civvy street, let alone pub or supermarket companies. This aspect is exemplified by the appointment to update the rules of Lord Sharman formerly head of Ernst and Young and Tony Blair's main advocate for Britain to join the euro, whose financial judgement on the big issues is transparently deficient. The great and the good, les énarques, as the French say, have their role to play , but too much power has been ceded to them, to the serious detriment of corporate performance.

The nature and the tone of governance urgently need to change: if you have top CEOs like Stuart Rose at M&S or Simon Wolfson at Next, they should be encouraged, in due course, to become chairmen, subject to appropriate checks and balances. Executives should be properly represented on boards and should form a majority: the tail should not wag the dog. Performance-based pay should be consigned to the dustbin of history. There is no evidence that it does any good, and it often encourages perverse behaviour.

Britain's most senior judge, Lord Neuberger, who has seen many dogs in his day, recently said that the reaction of the authorities to failed regulation is often to produce more regulation, when what is needed is different regulation. Inexperienced yet compliant boards were intimately involved in the collapse of our banks, our pubs and our supermarkets. We now need a new system of regulation, which takes account of these factors.

Tim Martin is chairman and founder of JD Wetherspoon

"

Enquiries:
Company spokesman Tel.: [phone]

Eddie Gershon

Notes to editors

1. J D Wetherspoon owns and operates pubs throughout the UK. The company aims to provide customers with good-quality food and drink, served by well-trained and friendly staff, at reasonable prices. The pubs are individually designed, and the company aims to maintain them in excellent condition.
2. Visit our website: www.jdwetherspoon.co.uk
3. The next interim management statement will be issued on 5 November 2014.

This information is provided by RNS

[optomistic] 03/10/2014 09:34

Wetherspoon did win the appeal yesterday and will be allowed to stop serving alcohol at midnight to avoid the extra tax but will be allowed to reopen late if the tax is repealed, but only after a 28 day wait.
A good result for Tim Martin and one for common sense...the police are there to uphold the laws of the land, not to make them.

[optomistic] 02/10/2014 09:36

Yesterday's news.

Perhaps this partly responsible for todays drop:

"Nottinghamshire Police has objected to an application from JD Wetherspoon (JDW) to reduce one of its pub's hours to avoid paying a late-night levy, on the grounds of “crime and disorder, public safety and the prevention of public nuisance”."

[gbb483] 01/10/2014 22:41

So he's probably on gardening leave.

[optomistic] 01/10/2014 10:07

"JD Wetherspoon plc announces that Kirk Davis, Finance Director, has resigned as a director of the Company and intends to take up the same role at Greene King Plc."



Tim Martin, chairman of JD Wetherspoon, said:

"I'd like to thank Kirk for his work over the last six years and I wish him well with his future career. The Board of JD Wetherspoon has begun the process of identifying an appropriate successor."

--------------------------------------------------------------------------------

That seems very sudden, not even given the chance to find a new FD before he goes!
....but the market doesn't seem to dislike it.

[optomistic] 25/9/2014 20:41

A good late recorded buy today...160K @ £8

[gbb483] 11/9/2014 18:16

Final results due out imminently, what makes you think someone has leaked the details?

[johnwise] 03/9/2014 19:21

From Investors Chronicle

By Harriet Russell,

03 September 2014


Wetherspoon's margins under pressure


Sales figures should be strong when pub group JD Wetherspoon (JDW) releases its final results next week. But broker Numis warns that a 5 per cent increase in like-for-like sales and similar growth in the size of the property estate could be offset by squeezed margins, which were down 60 basis points to 8.1 per cent at the 49-week mark.

Growing demand for food has underpinned the growth, with food sales rising ahead of bar sales and machine game income. And approximately 45 pubs have opened during 2014, with only five closures. This will boost growth, but add to net debt. Numis reckons debt could be up as much as £100m to cover the working capital commitments associated with the new openings. About 70 per cent of Wetherspoon's new properties are freehold, which bodes well for margins in the future as rental costs fall.

As far as the current year is concerned, analysts believe the figures should benefit from easier comparatives. Margins could drop by a further 20 basis points, but Numis is still forecasting 15 per cent earnings growth, with 35 new sites due to open.

[optomistic] 29/8/2014 16:25

Money flowing into Wetherspoons this week.
The pubs that is :-)

[optomistic] 05/8/2014 08:43

Predominantly buys this morning and share price down again.
Someone wants this lower...anyone say the market isn't manipulated!

[optomistic] 04/8/2014 15:50

What's gone wrong here?
Everywhere you go Wetherspoons is thriving!

[pete678] 02/8/2014 12:28

Reference to JD Wetherspoons (JDW) on page 32 of Spread Betting Magazine August Edition

[optomistic] 11/7/2014 08:42

My local Wetherspoons was busy yesterday afternoon, full of people enjoying a drink and a meal at a fair price...and with efficient pleasant service that all makes for a pleasant hour (or more) :-)

[gbb483] 09/7/2014 09:29

Ah but the councils will make a gain, they'll get the pubs shut at midnight, thereby getting the rowdy late night revellers sent home early and the rest of the community getting a decent night's sleep.

'Responsible drinking' isn't just limited to the consumers, the providers also have a role to play, and if they won't do it willingly then hitting their pockets is a very good incentive.

[optomistic] 09/7/2014 09:24

The late night tax being imposed by the councils in not helping, Tim Martin is going to fight it by altering the licensing hours of the pubs affected so the councils will make little or no gain from their policies...but once again it's the politicians throwing a spanner in the works in their efforts to extract more money from companies which are paying their fair share of tax already.
Millipede is doing his best to disrupt the smooth flow of industry, as can be expected from such an enthusiastic left wing politician.
Heaven help us if he gets elected as PM, where will he stop...nationalisation all over again?

[gbb483] 09/7/2014 08:45

Good pre-close statement yet still it dives.

[optomistic] 08/7/2014 08:51

...it seems my 'support' isn't enough :-/