Costa News Update: Reaps The Benefit Of A Cold Spring
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Costa News Update: Costa reaps the benefit of a cold spring as customers sheltered in Costa coffee shops during the coldest season recorded for 50 years.
Costa, that is part of the Whitbread group, have posted strong financial results as customers took to the coffee shops to get out of the cold during a freezing spring. Costa’s like-for-like sales were up 8% in figures recorded to May the 30th of this year, while Whitbread’s other companies, Beefeater and Brewers Fayre showed no increase at all with sales remaining flat.
The chief executive of Whitbread, Andy Harrison, commented that in the coldest spring recorded since the spring of 1962 he thought that in the evening when people might normally be expected to go to restaurants they were instead staying at home and keeping warm, whereas during the day they were visiting coffee shops to warm up from being outside at work or shopping.
Mr Harrison added that Costa was resilient in the recession because, he thought, going out for a coffee was a low price affordable indulgence in straightened times and that the coffee shops offered a very conducive meeting place both for business as well as for socialising. When it might not be possible to buy an expensive piece of clothing or other luxury a coffee and a get together with friends offered a great chance for people to feel as though they had given themselves a treat.
Whitbread have announced that they will open around three hundred new Costa shops globally in the coming financial year and have also increased their target for the opening of the self service coffee bars to seven hundred and fifty for the full financial year. The CEO also mentioned that one hundred of the new shops would be opened in China and that just under half the planned opening of coffee shops would be in within the United Kingdom.
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It is thought that Costa has done well due in part to the design and layouts of their shops which has taken its inspiration from certain other independent stores, as well as for the quality of the coffee that they serve. Mr Harrison also added that he thought that Costa and Premier Inn that is also in the Whitbread group had shown a competitive performance over the financial period. There is no doubt that Costa coffee will be on the high street for many years to offer its customers shelter from the weather and a great cup of Costa coffee.
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