Competitive AdvantageWetherspoon's low-price consumer proposition should benefit in the event of trading down, with market share gains as smaller scale operators struggle to absorb wage increases.
Financial PerformanceCurrent trading continues to be strong at +5.0%, well ahead of the market.
Market PositionWith a low price position relative to other operators, and increased wages affecting the whole industry, Wetherspoon's is relatively better-placed to absorb the wage increases.