Costa sales boost Whitbread's performance
Costa owner Whitbread has reported that the coffee shop chain increased its UK retail system sales by 14.1% to £833 million in the 50 weeks to 11 February. Equity stores grew their like-for-like sales by 3%.
Worldwide system sales climbed by 13.1% to £1,516 million. Within this, franchise system sales grew by 10.6% to £572 million.
Costa Enterprises, including Costa Express UK & International, delivered system sales of £374 million, which marked a rise of 12.6%. Costa Express maintained its success with the installation of a further 921 Costa Express machines taking the total to 5,213.
Meanwhile, international system sales increased by 11% to £309 million. Some 79 net new stores were opened in the period with 41 in EMEI and 38 in Asia.
In the UK, Costa opened 103 net new stores.
In the 11 weeks to 11 February, Costa’s total sales rose by 10.5% while like-for-like sales edged up 0.5%.
Commenting on the 11 week period, Alison Brittain, chief executive of Whitbread, said: “Costa had good total sales growth of 10.5% and like for like sales growth of 0.5% reflecting lower footfall on the high street and an unusually warm winter.”
Across the wider Whitbread group, total sales climbed by 10.4% in the 50 week period while like-for-like sales increased by 3.2%
Whitbread anticipates that full year profit will be in line with expectations.
Brittain said: “In the year ahead, as we build towards our growth milestones, we will continue to invest in improving our customer propositions, our digital and IT capabilities and in our winning teams to ensure we maintain our market leading positions. This will deliver long term profitable growth and sustainable returns for our shareholders."