Caffè Nero reports strong trading recovery
Gerry Ford, CEO, said the brand is ‘coming back’ with sales at Caffè Nero almost at pre-pandemic levels
Caffè Nero has announced a sales increase of 160% from January 2021 to October 2021.
According to the brand, throughout the pandemic it has continued to “develop and improve” its ‘coffee at home’ business and has recently established retail partnerships with Amazon, Sainsbury’s and Waitrose to carry its coffee range.
It revealed “parts” of the Caffè Nero estate are already back to 2019 sales levels.
Overall sales at Caffè Nero have now reached 87% of 2019 levels, with the company expecting to reach sales levels of 90% in November.
The firm has also said sales through delivery partner Uber Eats have been growing, rising 200% in like-for-like sales in the summer and autumn.
Caffe Nero has paid back all the debt it borrowed during the pandemic, resulting in a current debt situation matching pre-pandemic level.
Gerry Ford, founder and group CEO at Caffè Nero, said: “Each month trading is getting stronger and our prospects and opportunities going forward are becoming more encouraging.
“This solid trading is very encouraging and is providing a good platform for us to restart the engines and open a series of new stores over the next 12 months.”
