Whitbread outperforms
Hotels and restaurants group Whitbread saw like-for-like (LFL) sales rise 4.2 per cent year-on-year in the 11 weeks to August 16th.
Hotels and restaurants group Whitbread saw like-for-like (LFL) sales rise 4.2 per cent year-on-year in the 11 weeks to August 16th.
The Costa Coffee chain was the star performer, with LFL sales up 5.7%. The Restaurants business grew LFL sales by 4.9% while the Premier Inn hotels arm's sales were up 3.2% on a LFL basis. In combination, the Hotels & Restaurants business saw LFL sales up 3.8%.
"Whitbread has continued to deliver good sales growth with total sales up 14.8% in our second quarter," said Andy Harrison, Chief Executive of Whitbread.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Our brands have outperformed in a tough economic climate, with like-for-like sales growth of 4.2% and we have continued our network expansion at Costa and Premier Inn," he added.
An updated version of this story is now available
JH
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
House prices rise 2.9% – will the recovery continue?
House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
By Katie Williams Published
-
Nvidia earnings: what to expect
Nvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
By Dan McEvoy Published