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JD Wetherspoon outlines pub opening plans
JD Wetherspoon intends to expand its commercial property by opening around 50 new pubs in the current financial year.
The group, which may need to tap into the commercial property for sale market in order to secure real estate, said in a trading update that it has already established 15 so far.
As a result, it currently operates out of 244 locations, having ceased trading at two sites after Heathrow's Terminal 2 was closed.
The firm said in a statement that "continuing sales growth and an increased opening programme" mean it is confident of its prospects for the full-year, which ends on July 25th.
However, it added that the recent bad weather has affected trading, with like-for-like sales in the 12 weeks to January 17th declining by 0.3 per cent.
JD Wetherspoon says it has converted a wide variety of commercial properties into pubs, with examples including fire stations, supermarkets and banks.
It spends around £1.4 million on each redesign, it noted.
The group, which may need to tap into the commercial property for sale market in order to secure real estate, said in a trading update that it has already established 15 so far.
As a result, it currently operates out of 244 locations, having ceased trading at two sites after Heathrow's Terminal 2 was closed.
The firm said in a statement that "continuing sales growth and an increased opening programme" mean it is confident of its prospects for the full-year, which ends on July 25th.
However, it added that the recent bad weather has affected trading, with like-for-like sales in the 12 weeks to January 17th declining by 0.3 per cent.
JD Wetherspoon says it has converted a wide variety of commercial properties into pubs, with examples including fire stations, supermarkets and banks.
It spends around £1.4 million on each redesign, it noted.
Wed, 20th Jan 2010