Spur rules out closing John Dory’s despite 11% sales slump
John Dory’s is shrinking as Spur Corporation closes six restaurants and sales fall 11.2%, but the group says it will keep investing in the struggling seafood brand.
Spur Corporation has decided to keep John Dory’s open despite an 11.2% drop in sales and the closure of six restaurants. CEO Val Nichas stated that the seafood brand still has a future as the company works on a new plan to improve its performance. John Dory’s sales decreased from R422.2 million to R374.8 million in the year ending June 2026, while profit before tax fell by 23.3% to R7.7 million.
The brand’s presence contracted for the second year in a row, with six restaurants closed, including five in South Africa, reducing its South African network from 44 to 39 outlets. The overall domestic and international footprint dropped from 46 to 40 restaurants. Nichas noted that the seafood category is currently challenging due to financially strained consumers being more cautious about dining out expenses.
Despite the closures and declining sales, Spur is not considering shutting down John Dory’s, as they have too many loyal franchisees. Instead, the group is evaluating the remaining stores to determine which outlets can continue operating. Nichas mentioned that the company plans to develop a strategy for John Dory’s to ensure its future, and they aim to share the plan with the market in a few months.
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