Costa plans 250 new stores as owner Whitbread posts 8% sales rise

Opening of the Costa Eco Pod in Telford. Picture by Sam Bagnall

Whitbread this morning revealed that sales rose 8% during the first quarter of the year as it hailed its “relentless focus” on customers, innovation and investment in key brands.

It said Costa had “started the year well” while Premier Inn “continues to win share”, albeit in a weaker than expected hotel market.

Costa grew total sales by 11.5% with UK retail like-for-like sales growth recovering to 2.6%, resulting in total revenues of £414m. It remains on track to open 230-250 Costa stores worldwide and has increased its target to install at least 1,250 new Costa Express machines this year.

Costa Enterprises (including Costa Express UK & International) delivered system sales of £103m, up 11.2%. Costa Express maintained its success by installing a record 448 Costa Express machines in the quarter, taking the total number of machines to 5,664.

Restaurants delivered total sales growth of 1.4% and like-for-like sales growth of 0.2%, for Whitbread, slightly ahead of a soft pub restaurant market outside the M25.

“Although it is early in our new financial year and despite current market conditions, with the benefit of our cost efficiency programme we remain confident of making good progress for the full year,” stated chief executive Alison Brittain.

Authors

HAVE YOUR SAY...

*

Related posts

Top