Coffee#1's Robust Growth Amid Inflation

Coffee#1's Robust Growth Amid Inflation

UK-based Coffee#1, owned by the Caffè Nero Group, has reported strong sales growth in its half-year performance ending November 2023, with a 19% increase in sales reaching £29.5 million. This growth comes despite the ongoing inflationary pressures across the UK. The coffee chain has attributed its success to the rising popularity of its iced coffee and food offerings, which have contributed to a higher average customer spend. With an 8% rise in like-for-like sales and the opening of new stores, Coffee#1's expansion seems to be on a steady course. The company's optimism is further buoyed by research indicating a growing year-round interest in cold coffee beverages in the UK market. Coffee#1's management remains positive about the brand's broad appeal and expects sales to continue to build throughout the year.

Read the full article here.