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Thu 2nd Feb 2017 - Exclusive – Costa Coffee increases prices a week after boss says it was ‘ready to pull the lever’ on rises
Exclusive – Costa Coffee increases prices a week after boss says it was ‘ready to pull the lever’ on rises: Whitbread’s Costa Coffee brand has increased its drinks prices, Propel has learned – a week after Whitbread boss Alison Brittain said it was “ready to pull the lever” on price rises if necessary. The company has increased prices across its drinks range by 10p on average today although it does depend on the drink and the size. For example, a large cappuccino now costs £2.90 instead of £2.70. The price increases apply to drinks only and not food. Costa said despite the price rise “its cappuccinos and lattes were still 10p to 15p cheaper than its competitors”. The company told Propel the rise was not down to any one specific cost increasing but would allow it to further invest in the business. Costa UK and Ireland managing director Jason Cotta said: “Costa still offers customers the best value for a lovingly handcrafted cup of coffee, even after this price rise. While the new pricing puts us more in line with competitors, we are still 10p to 15p cheaper for a cappuccino or latte. We continue to reinvest heavily in our store refurbishment programme, as well as barista training and new products – ensuring Costa remains a place where you can get a great cup of coffee, at a reasonable price in a warm and welcoming environment.” Last week, Brittain told MCA that Whitbread was in a position to “pull the lever” on price increases if necessary as the company reported a 1.7% increase in like-for-like sales across its estate in the 13 weeks to 1 December 2016. Costa like-for-like sales were up 4.3% in the period. Costa increased the prices of its core drinks in January last year by an average of 10p – the first increase by the brand since 2011. Whitbread said no price increases have been made at any of its other businesses.


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