Total sales rise 14.8 per cent in financial year to date at Whitbread

Total sales rose 14.8 per cent in the 50 weeks to February 14th at hotel and restaurant group Whitbread.

Total sales rose 14.8 per cent in the 50 weeks to February 14th at hotel and restaurant group Whitbread.

In a trading statement issued on Tuesday, the group reported "double digit sales growth" and said it was on track to deliver full year results in line with expectations.

Like-for-like sales rose 3.7% across the whole group in the 50 weeks to February 14th with the biggest like-for-like increase being seen at Costa stores, where sales rose 6.6%.

In the 11 weeks to February 14th, total sales rose 16.9% across the whole group while like-for-like sales rose 2.7%.

Andy Harrison, the Chief Executive Officer of Whitbread, said: "For the financial year to date, Whitbread has again delivered outstanding organic growth in a flat consumer market, growing total sales by 14.8%.

"Our strong brands continue to win market share, supported by our highest ever guest satisfaction scores and rapid expansion of our network. Good like for like sales growth of 3.7% demonstrates the consumer appeal of our brands and also enables us to reinvest in our people and facilities and to grow our estate. We remain on track to deliver full year results in line with expectations."

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Inflation is the easiest way out of this – just don’t expect politicians to admit it
Inflation

Inflation is the easiest way out of this – just don’t expect politicians to admit it

The UK government borrowed £34.1bn in December, a record amount for that month. Britain's debt pile now amounts to 100% of GDP. How are we going to pa…
22 Jan 2021
When will the US stockmarket bubble burst?
US stockmarkets

When will the US stockmarket bubble burst?

With US stocks more expensive than before the Wall Street crash of 1929, there are growing signs of “mania”. But what will push markets over the edge?
22 Jan 2021