The last year saw 103 Costa Coffee outlets open as owner Whitbread plans further expansion.
The 12 months to March 2016 saw rapid expansion of the Costa Coffee chain. Sales grew by 2.9% on a like for like basis, rising by 16.3% overall to reach £1.1n.
Whitbread, which also owns the Premier Inn hotel chain, said that it is targeting £2.5bn in coffee sales by 2020.
“The world around us is shifting, with rising customer expectations, an evolving competitor landscape, rapid technological developments and changing cost structures,” said Alison Brittain, Chief Executive of Whitbread. “In responding to this change, I am especially keen to reinforce our relentless focus on our customers and on innovation to develop our brand propositions ensuring we stay ahead and become more productive.
“Both Premier Inn and Costa benefit from attractive market growth opportunities and we will continue to capitalise on these by developing our network and brand strength as we fulfil our ambitions to reach c. 85,000 UK hotel rooms and c. £2.5bn system sales in Costa, by 2020.”
Since being acquired by Whitbread, Costa has become the largest coffee chain in the UK. December saw the launch of the new ‘Costa Fresco‘ concept store, with the aim to roll outlets out across the country if the first proves to be successful with its food offering.