# Wetherspoons dashes hopes of World Cup boost with another profit warning

By Dan Coatsworth — 2026-07-22

Dan Coatsworth, head of markets at AJ Bell, said: “When Tim Martin is quiet, you know something has gone wrong.

“A profit warning from Wetherspoons is a major surprise given the pubs sector should have been basking in the glory of the World Cup.

“Football fans love a pint or five, and various pub operators have reported an uptick in trading around the tournament.

“But Wetherspoons has fallen short on sales versus market expectations, while cost pressures continue to be problematic.

“One would have thought Tim Martin would use the trading update as an excuse to lay out his demands from the new government in how to help the pubs sector. But there is nothing but silence.

“He might be playing the waiting game given murmurs that Andy Burnham will announce lower business rates for pubs. It’s possible he doesn’t want to rock the boat before the new Prime Minister has had a chance to lay out his plans.

“Wetherspoons has always trodden carefully when it comes to dealing with cost pressures. Many companies would simply pass on extra costs to the customer through higher prices.

“Wetherspoons knows its unique selling point is favourable pricing, so it may not want to risk alienating customers by making its products too expensive. That means stomaching extra costs and taking a hit to profits.

“Wetherspoons has long prioritised volumes over profit margins, and this might explain the latest profit warning.”

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