Costa helps to boost Whitbread’s results expectations
Whitbread has said it expects its full year results to be at the top end of market expectations after its Costa and Premier Inn chains achieved strong fourth quarter sales growth.
In the 11 weeks to 12 February, Costa grew its total sales by 19.8% while increasing its UK like-for-like sales by 6.9%. Whitbread said Costa’s Christmas campaign was well received by customers.
Meanwhile, Premier Inn total sales climbed by 16.5% with like-for-like sales growing by 8.6%.
Across the wider Whitbread group, like-for-like sales rose by 5.8% while total sales increased by 14.3% in the 11 week period.
Andy Harrison, chief executive of Whitbread, said: “We have continued our strong trading momentum in the final quarter, with total sales growth of 14.3% and like-for-like sales growth of 5.8%. Premier Inn and Costa continue to grow rapidly, winning UK market share, with Premier Inn also benefiting from the recovery in the UK regional hotel market. With this strong performance we expect to deliver full year results towards the top end of current expectations.”
Harrison said Whitbread will open approximately 230 net new Costa stores worldwide this year and is planning to launch around 250 net new Costa stores in the next financial year.
