Wetherspoons boss Sir Tim Martin makes new pledge on food and drink prices
dailyrecord.co.ukWetherspoons chief Sir Tim Martin has said he will keep his chain's food and drink prices steady amidst the soaring cost of living.
The pub boss has assured that there will be no price hikes for the remainder of the year. He attributes this commitment to the easing of industry costs and inflation, as he explained to The Sun, promising to maintain this stance "for the rest of the calendar year" and extending a previous promise that was limited to breakfast offerings.This announcement follows Wetherspoons' report of a 7.7% rise in like-for-like sales over the last 10 weeks, despite having recently shut down 52 outlets.
Additionally, the company has experienced a 21% increase in sales per venue compared to pre-Covid times, which has contributed to their ability to freeze prices, reports the Manchester Evening News.
Moreover, the pub chain is investing an additional £164 million in labour expenses due to the higher living wage. Commenting on the financial performance, Sir Tim remarked: "The gradual recovery in sales and profits, following the pandemic, has continued in the current financial year.
Read more on dailyrecord.co.uk