Today’s news in brief – 30/04/25

Starbucks has seen its consolidated net revenues rise by 2% to $8.8bn (£6.5bn) in Q2, despite global comparable store sales declining 1% due to a 2% fall in transactions. In North America, comparable store sales saw a 1% fall that was driven by a 4% decline in transactions, though this was “partially” offset by a 3% increase in average spend. Internationally, sales rose 2% thanks to a 3% uptick in transactions. This was offset by a slight 1% decline in average spend. Starbucks opened a total of 213 stores during Q2. 

Roadchef has appointed Tim Gittins as its new CEO. He brings over 15 years of experience in the motorway services sector. Prior to Roadchef, he served as chief revenue officer at Bink, a UK-based loyalty app. Gittins has also held other senior positions including strategy director at Moto Hospitality, head of retail purchasing at Ocado Group and food category manager at M&S. Roadchef operates 31 locations across the UK with some 3,500 members of staff, and serves over 50 million visitors each year.

Young’s has seen its total managed revenues jump by 25.4% in FY25, with like-for-like sales increasing by 5.7%. The pub operator said it has “traded well” during the period, having seen the positive momentum it reported in January continue. In the 13-weeks ending 31 March, like-for-like sales were up by 7.7% and the group’s total managed revenues jumped by 16.2%. This strong performance is said to be “a testament to Young’s proven strategy”. As a result, trading for the full year was in line with expectations. 

Costa Coffee has recruited Savills as advisors in its nationwide acquisition plans. Savills has worked with the company on its high street expansion across the south west, Wales and Scotland for close to 20 years, and now the operator has extended the remit nationwide, excluding inside the M25. With a renewed focus on the high street and shopping centres, Costa Coffee is now looking to “maximise” the customer experience, with Savills looking for new stores, relocations and upsize opportunities to facilitate this.