Caffè Nero has reported ‘robust’ trading in its Q4 update for the period between 1 March and 31 May 2023, with sales at 112% of pre-pandemic levels.
The coffee chain further reported strong like-for-like growth and opened 23 new stores across various territories during the period, seven of which were in the UK.
Delivery sales also grew in Q4, seeing sales growth of 63.3% compared to the same period in 2022.
Caffè Nero continued to grow in-app transactions, with over 32% of all UK store transactions now taking place via the app, which has over 2 million users in the UK.
The app is accepted across all major territories where Caffè Nero operates – a ‘highly beneficial’ feature – including the US, Ireland, Turkey, Poland, and Sweden.
It updated on its refurbishment programme, which has seen 200 stores upgraded across the wider group in the last 12 months, 140 of which were in the UK.
A further 180 stores are scheduled for refurbishment during the next financial year.
Founder and Group CEO Gerry Ford commented: “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 Caffè 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.”
