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Thu 10th Aug 2023 - Caffe Nero reports sales reach 112% of pre-covid levels in its fourth quarter
Caffe Nero reports sales reach 112% of pre-covid levels in its fourth quarter: Caffe Nero has reported robust trading for the three months to 31 May 2023 – the final quarter of its financial year – including strong like-for-like sales growth, taking sales to 112% of pre-covid levels. During the period, Caffe Nero opened 23 new stores at group level across its various different territories, with seven of those coming in the UK. The Nero Group also continued a major refurbishment programme that saw an initial 200 stores upgraded across the group over the past 12 months, 140 of which were in the UK. A further 180 stores are scheduled for refurbishment during the next financial year as the group continues to upgrade its estate. In the UK, Caffe Nero continued to grow transactions via its mobile app with more than 32% of all UK store transactions now taking place via app and more than two million people now using it in the UK. The app is accepted across all major territories where Caffe Nero operates, including the UK, US, Ireland, Turkey, Poland and Sweden. Between March and the end of May, Caffe Nero also continued the expansion of its delivery sales in the UK, with sales growth of 63.3% compared with the same period in 2022. Caffe Nero founder and group chief executive, Gerry Ford, said: “We saw very strong sales for the final quarter of our financial year with our iced drinks (which launched in April) sales in the UK up 54% on the same time the previous year, and savoury food sales 5% higher than the previous year. The UK also saw strong coffee sales, including our very successful single origin range. Our continued growth of delivery sales is also hugely encouraging. Despite difficult market conditions and inflationary costs still being challenging, the Caffe Nero brand has traction and is moving forward. With our new store opening programme and exciting product launches ahead, combined with clear customer demand for the brand, I’m confident we will have a strong summer and autumn.” The group operates more than 1,000 stores across ten countries, including in excess of 620 sites across the UK. Caffe Nero features in the Propel Turnover & Profits Blue Book, the latest edition of which will be sent to Premium subscribers tomorrow (Friday, 11 August). Its turnover of £349,083,000 for the year ending 31 May 2022 is the 26th highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email to upgrade your subscription.

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