Costa Coffee Business Still Going Flat, Hot Weather to Be Blamed: White Bread
The UK's largest hotel and restaurant group White Bread has said that Costa Coffee chain is still not doing well, as customers are really not ready to spend much. The company has quoted tight budget and increased temperature as the reason behind dipping sales. The group was planning for new Costa site in Darlington.
Brewers Fayre Pubs and the Premier Inn Chain are also owned by White Bread. Costa Coffee had reported an 8% growth in its sales from March to May, while the sale grew only by 3% between June and August
15. The sales score between March and May were good due to the cold weather, when people required hot coffee to keep them warm. The company has opened a new hotel and restaurant along with a new Costa Coffee site recently.
The company has recorded an increment of 10.8% in its sales in the second quarter. "It is clear that the London economy turned a corner some time ago, but it is totally unclear to me what is happening outside the M25. Wages are rising slower than inflation, particularly energy bills, and outside London the consumer has less money to spend," said Andy Harrison, Chief Executive, White Bread.
Changing weather is all to be blamed by Mr. Harrison for the flat business of Costa Coffee. He mentioned that short-term business was badly affected by the volatile weather in the last quarter.
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