Caffe Nero has scheduled the refurbishment of an additional 100 cafes before the end of the financial year as part of its major store refurbishment program to upgrade its estate.
The announcement coincides with Caffe Nero’s release of impressive financial results, which reveal a remarkable 19% year-over-year sales increase for the group and a substantial 13.5% growth in the UK during the first quarter of the fiscal year spanning from June 1 to August 31, 2023.
In that same time frame, the company expanded its presence by launching 18 new stores in its 10 diverse regions, with nine of them being in the United Kingdom.
Caffè Nero’s UK division has seen notable growth in its online app, with more than 32% of all store transactions in the UK being conducted through the app. Currently, over two million individuals in the UK are actively using the application.
From June to the end of August, Caffè Nero continued its expansion of delivery sales in the UK, with delivery sales now accounting for almost 3% of its overall sales.
“Results in our First Quarter were very encouraging across the Group and enabled our financial year to get off to a strong start. Despite problematic weather in the UK last summer, our summer iced drinks campaign there was very successful, with our ‘coffee over ice’ range performing particularly strongly at 17.4% like-for-like sales. New drinks in our Frappe Crème range (including the Tropical Fro-Yo) meant the category achieved 5.4% like-for-like sales. We also saw very strong growth in our sliced cake range, which was in 20% growth year on year. Despite continuing inflation, I’m optimistic that we can have a good Second Quarter. I know our new store openings pipeline is very strong,” Caffè Nero Founder and Group CEO, Gerry Ford said.
