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Poor British weather hits sales at Whitbread restaurants Poor British weather hits sales at Whitbread restaurants
(4 months later)
Sales at Whitbread, the parent company of Costa Coffee and Premier Inn, rose in the first quarter as the coldest spring since 1962 hit its restaurant business but drove customers into its coffee shops.Sales at Whitbread, the parent company of Costa Coffee and Premier Inn, rose in the first quarter as the coldest spring since 1962 hit its restaurant business but drove customers into its coffee shops.
The FTSE 100 company reported a 13.8% rise in total sales in the 13 weeks to 30 May, with like-for-like sales up 3.1%.The FTSE 100 company reported a 13.8% rise in total sales in the 13 weeks to 30 May, with like-for-like sales up 3.1%.
Costa benefited from the unseasonably chilly weather, with total sales jumping 23% to £281.8m, and like-for-like sales up 8%.Costa benefited from the unseasonably chilly weather, with total sales jumping 23% to £281.8m, and like-for-like sales up 8%.
Whitbread said the restaurants division struggled in the early part of the quarter because of the chill. Total sales in the division rose 2.6%, with like-for-like sales flat.Whitbread said the restaurants division struggled in the early part of the quarter because of the chill. Total sales in the division rose 2.6%, with like-for-like sales flat.
Andy Harrison, the chief executive, said: "We have seen a substantial improvement in our restaurants in recent weeks as the weather returns to something like normality."Andy Harrison, the chief executive, said: "We have seen a substantial improvement in our restaurants in recent weeks as the weather returns to something like normality."
Premier Inn, its budget hotel chain, managed a 12.7% increase in total sales and a 2.7% increase in like-for-like sales, despite being set against strong comparatives in London last year.Premier Inn, its budget hotel chain, managed a 12.7% increase in total sales and a 2.7% increase in like-for-like sales, despite being set against strong comparatives in London last year.
Harrison said: "Whitbread had a good start to the new financial year. We see no change to market conditions. Our plans for profitable organic growth are well established which, combined with our strong focus on returns, should create further substantial shareholder value," he said.Harrison said: "Whitbread had a good start to the new financial year. We see no change to market conditions. Our plans for profitable organic growth are well established which, combined with our strong focus on returns, should create further substantial shareholder value," he said.
In April the group unveiled ambitious plans for growth over the next five years, targeting a 45% increase in the number of Premier Inn rooms to around 75,000, and a doubling of the size of Costa sales to £2bn.In April the group unveiled ambitious plans for growth over the next five years, targeting a 45% increase in the number of Premier Inn rooms to around 75,000, and a doubling of the size of Costa sales to £2bn.
It compared with a previous target of 65,000 rooms and Costa sales of £1.3bn.It compared with a previous target of 65,000 rooms and Costa sales of £1.3bn.
Whitbread opened 39 new Costa shops in the UK in the first quarter, and a further 21 overseas, including 18 in China. There are a total of 271 Costa stores in China.Whitbread opened 39 new Costa shops in the UK in the first quarter, and a further 21 overseas, including 18 in China. There are a total of 271 Costa stores in China.
The group said it planned to open 300 net new Costa stores in the full year.The group said it planned to open 300 net new Costa stores in the full year.
Whitbread, whose brands include Beefeater and Brewers Fayre, employs more than 40,000 people and serves over 22 million customers every month.Whitbread, whose brands include Beefeater and Brewers Fayre, employs more than 40,000 people and serves over 22 million customers every month.
"Whitbread has delivered its almost customary breath of fresh air in the midst of a tepid economic backdrop," said Richard Hunter, head of equities at Hargreaves Lansdown stockbrokers."Whitbread has delivered its almost customary breath of fresh air in the midst of a tepid economic backdrop," said Richard Hunter, head of equities at Hargreaves Lansdown stockbrokers.
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