(Reuters) -Pub chain JD Wetherspoon on Wednesday projected a more cautious outlook for the rest of the year ahead of the upcoming UK budget, and posted a slowdown in sales growth due to a squeeze in consumer spending.
The slowdown underscores the intense pressure faced by the UK hospitality sector, as even value-focused players struggle to draw in customers grappling with a cost-of-living squeeze.
The food and beverage industry, which faced higher costs following the budget last year, is once again bracing for impact ahead of the November 26 budget.
Wetherspoon, known for its affordable drinks and pub fare, reported a 3.7% rise in like-for-like sales in the 14-week period ended November 2, down from 5.1% growth in the previous 12-week period.
(Reporting by Yamini Kalia in Bengaluru; Editing by Sherry Jacob-Phillips)
