Caffè Nero hits record Q1 sales of £147m
UK sales during the quarter were supported by 2.1% growth in footfall, coupled with a ‘huge’ demand for its cold drinks and summer sweet range
Caffè Nero has reported recorded sales of £147m for the first quarter, driven by very strong growth in the UK of 12.5% year-on-year and a like-for-like sales rise of 9.1%.
The coffee house brand’s Q1 performance was “notably” above the general trend of the F&B sector, marking a continuation of Caffè Nero’s gain of market share in the coffee segment.
UK sales during the quarter were supported by 2.1% growth in footfall, coupled with a “huge” demand for its cold drinks and summer sweet range, which was up 11.3% year-on-year.
In addition, Caffè Nero opened 14 new stores across various different territories throughout the first quarter, nine of which were opened in the UK and Ireland.
The Nero Group also continued its store refurbishment programme, with 44 stores refurbished in the first quarter, of which 35 were in the UK.
Over 100 stores are due to be refurbished during the remainder of the financial year as part of the group’s continual upgrading of the store estate.
Gerry Ford, founder and group CEO of Caffè Nero, said: “We have had a hugely successful Q1, which has seen our financial year get off to a strong start. Despite the changeable weather in the UK, our summer iced drinks campaign was very successful, and customers have really taken to our summer menu.
“Building on from the strong Q4 we experienced in FY24, these Q1 FY25 results show we are continuing to drive real momentum and performing very well as a business. I’m optimistic that despite the impact of inflationary costs on our business, we can keep the momentum going and have an outstanding year.”
