Costa Coffee Losses Double, Coca-Cola Considering Sale
Update: 2026-01-02
Description
Costa Coffee, owned by Coca-Cola, reported a significant loss in 2024, with profits plummeting to £13.5 million from £5.8 million in 2023. Despite a slight sales increase of 1%, the company is facing intense competition from both budget-friendly spots like Greggs and premium players such as Gails, as well as a surge in local independents. The UK coffee scene is experiencing a triple threat, with customers seeking better ambiance, tastier food, and less corporate feel from artisanal shops. Younger crowds are even opting for trendy flavored matchas instead of traditional coffee. Coffee prices have surged, now averaging over £4 a cup, and Coca-Cola is reportedly considering selling Costa Coffee for around £2 billion due to the chains struggles in the UK market.
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