Article 3DKR6 Costa Coffee loses its froth as sales fall

Costa Coffee loses its froth as sales fall

by
Julia Kollewe
from Economics | The Guardian on (#3DKR6)

Chain warns of subdued demand as shoppers shun high street and artisan rivals perk up

Britain's biggest coffee shop chain, Costa Coffee, has suffered a fall in sales at its high street stores and warned consumer demand would remain "subdued".

Costa's owner, Whitbread, said like-for-like sales at its UK outlets had fallen 1.5% in the 13 weeks to 30 November. Costa Express machines, which are mainly in petrol stations and convenience stores, fared much better, with 6.7% underlying sales growth.

Like-for-like sales have become the benchmark in the City for judging the current performance of retailers. Typically represented as percentage growth rates, like-for-like sales measure sales at stores that have been open for at least a year, stripping out the impact of sales at newer stores. The idea is that they allow a more transparent comparison of a retailer's sales performance over a certain period of time, when compared with the same period of time a year earlier.

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