logo
Plus   Neg
Share
Email

Whitbread Q1 UK LFL Sales Down 3.7% - Quick Facts

Whitbread plc (WTB.L) said it has delivered a resilient performance in the first quarter despite more challenging market conditions. Looking ahead, Whitbread said, whilst it is cautious about short-term market conditions, the Group is confident in its plans. Also, Whitbread plans to launch a tender offer to repurchase up to 2 billion pounds of shares on 20 June, as the second phase of return of capital related to the net cash proceeds from the sale of Costa.

First-quarter UK total like-for-like sales declined 3.7%. Total UK sales declined 1.1% as UK total accommodation sales were down 1.5% in the quarter due to weak trading conditions. UK & International total sales were down 1.0%.

Alison Brittain, Whitbread Chief Executive, said: "Our expansion into Germany is firmly on target. Our new hotel opening in Hamburg is performing above our expectations and our hotel in Frankfurt continues to perform well."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Auto giant General Motors' (GM) Chevrolet unveiled its new stunning Corvette Stingray 2020. Stingray 2020, the eighth generation of the Chevrolet Corvette, has received the biggest change since its initial launch in 1953. The new 2020 Corvette is a mid-engine vehicle, which is its engine is behind... Amazon.com's Prime Day has brought a smile to the face of some photographers who may have grabbed their best deals of their lives. The e-commerce giant accidentally discounted a wide range of premium camera gear for Prime Day earlier this week, which may have proved costly for it. Thanks to a pricing error, some lucky customers were able to buy premium camera gear bundles for below $100. Women's clothing chain Dress Barn Inc. said it started store-closing or inventory clearance event sales at the 53 stores it plans to close by the end of August. The company expects to close all its stories by end of 2019. It also released a list of the nine stores closing in July and the stores closing in August. Dressbarn has hired Gordon Brothers Retail Partners to help with the store closures.
Follow RTT