Costa Coffee Trading Update
Whitbread plc gave an update on the performance of Costa Coffee for the 50 weeks ending February 12.
Highlights include:
- Total system sales increased 16.2% to £1,304.5 mill (17.5% at constant currency). Within this figure, franchise sales were up 15.5% to £516.9 mill (17.9% at constant currency).
- UK Retail system sales grew 17.2% to £730.3 mill, with equity stores delivering like for like sales of 6% and like for like store transaction growth of 4.6%
- Costa Enterprises (inc. Costa Express) system sales grew 19.4% to £331.9 mill
- International system sales grew 10.9% to £281.2 mill, with growth of 6.5% in EMEI and 20.3% in Costa Asia
- Expectations for 230 net new stores to be opened including 180 in the UK and 50 internationally and 800 net new Costa Express machines, taking the total to 4,300
- Plans for approximately 250 new stores to be opened globally next year and 800 Costa Express machines to be installed.
Speaking of the results, Andy Harrison, Chief Executive of Whitbread said "We have continued our strong trading momentum in the final quarter...Costa continue(s) to grow rapidly, winning market share".
