Wetherspoons has announced the return of its Craft Cider Festival, a 10-day event featuring 15 ciders from 15 producers at prices as low as £2.99 per pint. The festival runs from Friday, July 31 to Sunday, August 9 at Wetherspoon pubs across the UK.
Festival Details
The pub chain said in a statement: "Whether you’re a traditionalist who likes to stick to a classic apple cider or you have a penchant for something a bit fruitier, you are sure to find an option to tickle your taste buds." Prices range from £2.99 to £3.49, and all ciders can be ordered via the Wetherspoon app. Tasting notes will be available in pubs for each cider.
Financial Context
Wetherspoons operates 793 managed pubs and 23 franchise sites in the UK. Earlier this month, the company reported slower-than-expected sales growth and reiterated profit warnings, dampening investor hopes of a World Cup and warm-weather boost. Sales grew 4% in the three months to July 19 compared with the same period last year, but some investors had expected stronger momentum after a recent slowdown.
Chairman Tim Martin warned that the company could miss profit guidance, adding to remarks from May that government-linked policy costs would drag on financial performance. Wetherspoons previously stated it faces £60 million in extra costs from wage increases and National Insurance contributions for the year.
Industry Analyst Comments
Susannah Streeter, chief investment strategist at Wealth Club, said: "Wetherspoon is having to swallow a bitter mix of higher labour, food, energy, repairs and business rates, which continues to eat away at margins. These pressures are unlikely to disappear any time soon."
