Coffee#1 H1 sales rise 18.8% to £29.6m
The group’s like-for-likes sales performance for the same period also remained robust at 8%, underpinned by sustained customer growth of 1.2%
Coffee shop brand Coffee#1 has revealed that sales rose 18.8% to £29.6m during the first half of the financial year from June 2023 to November 2023.
The group’s like-for-likes sales performance for the same period also remained robust at 8%, underpinned by sustained customer growth of 1.2%.
During H1, the coffee shop chain opened four new stores in Godalming, Chesterfield, Yate and Cwmbran, taking its store estate to 118 stores and making it the fourth largest coffee shop brand in the UK.
At the start of the second half of the financial year, Coffee#1 had “record” sales over the Christmas trading period, peaking at £1.37m during the week of 18 December when almost 300,000 customers were served.
The group’s new store opening programme also continued into H2, with openings in December in Derby and Fleet in January, and four further openings forecast before the end of the financial year.
Despite inflationary pressures, the business remains committed to job creation and store growth, with two stores in Bournemouth and Loughborough currently under construction.
Bruce Newman, managing director of Coffee#1, said: “Once again, we are indebted to our store and support teams. They have put in the hard work required to deliver some excellent results. It takes first-class service and great teamwork, along with an outstanding menu, for our customers to want to come back time and time again.
“It’s been fantastic to witness that happening and to see so many of our employees progressing their careers with us in the first half of the financial year.”
He added: “While inflationary pressures remain, we are optimistic that our brand has broad appeal and expect to see sales build over the course of the remainder of the year.”