Caffe Nero, the quoted coffee bar operator, will today tell shareholders that it expects to continue to open a new site every 10 days.
Since the year end (31 May) the company has opened a further 25 stores to take its estate to 239. It expects to have 255 stores trading by May 2006.
Total turnover for the first five months of the year is up 32%, with like-for-like sales currently at the top end of Nero’s 2-4% guidance range.
Speaking at today’s AGM Gerry Ford, chairman and chief executive, will tell shareholders: “We are seeing no let-up in the growth of the UK coffee bar market. The Caffe Nero brand continues to gain ground and grow market share.”
