Caffè Nero had strong sales growth in all its territories during Q1 with particularly pleasing results in Turkey, Sweden, Ireland, The United States, The United Kingdom and Cyprus.
In each of these territories, Caffe Nero outperformed the F&B market and continued to gain market share. Not only did sales rise significantly, but customer numbers were also up year on year in the Group in Q1.
The strong Quarter 1 results in the U.K. were driven by UK sales from Iced drinks, which rose by 49% year on year. The introduction of Iced Matcha was also a great success at Caffè Nero U.K. in the summer, selling 1.3m units in Q1.
During Q1, The Nero Group continued to upgrade its store estate with 20 stores receiving refurbishment.
More people also signed onto Caffè Nero’s award-winning App, with 6m App members now participating globally.
Caffè Nero Founder and Group CEO, Gerry Ford commented: “We have had a hugely successful Quarter 1, which means our financial year is off to a strong start. Our summer iced drinks campaign, particularly our Iced Coffees and Matcha ranges, were very successful.
We are operating in difficult times with high levels of macro uncertainty, record level high green coffee bean costs and sluggish economies. But we are sticking to our basic principles: great coffee served by wonderful people who care about their customers. I’m hopeful our momentum can continue in these challenging times.”
