Costa posts 8% increase in like-for-like sales as weather boosts trade
Costa Coffee grew its like-for like sales by 8% in its UK stores in its first quarter as the unseasonably cold weather in the period boosted coffee sales.
The Whitbread owned chain saw its UK retail sales increase by 20.1% to £151.5 million in the 13 weeks to 30 May, while franchise sales rose 21.6% to £111.8 million.
Costa Enterprises, which includes the Costa Express machines, delivered a 32.6% increase in system sales to £67.1 million.
The coffee chain opened 39 net new UK stores in the quarter, which included 36 in UK retail and three in Costa Enterprises.
“We plan to open around 300 net new stores and have raised our target to 750 Costa Express units in the full year,” the company said.
Internationally, system sales grew by 21.3% to £63.3 million. Costa opened 21 new international stores in the period including 18 in China where there are now 271 stores.
Across the group, Whitbread reported a 3.1% rise in total like-for-like sales in the quarter. Group sales rose by 13.8%.
Chief executive Andy Harrison said he saw no change in market conditions, adding: “Our plans for profitable organic growth are well established which, combined with our strong focus on returns, should create further substantial shareholder value.”
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