Coffee#1 has reported Q4 like-for-like sales up 117% versus pre-pandemic levels.
The Nero Group-owned community coffee shop concept added two new stores in Cheltenham and Portishead during the period, covering 1st March 2023 – May 31st 2023.
Coffee#1 is the fourth largest coffee brand in the UK, with the two new openings taking the total store estate to 113.
With the latest openings, its rate of expansion has returned to pre-pandemic levels.
The final quarter saw an acceleration in customer adoption of the company’s App, with registrations exceeding 200,000 people, and customer transactions exceeded 30% in a single week for the first time.
The business has also continued its expansion into the delivery segment of the coffee market, launching a partnership with UberEats, to add to its existing presence through Just Eat.
Managing Director, Bruce Newman commented: “The excellence of the quarter four like for like sales is testament to the quality of execution by our now over 1,000 strong employee team. Our new summer drinks and food ranges, in particular iced coffee which grew by nearly 400% on a volume LFL basis during May, landed extremely well and added to the healthy underlying performance.
“While the business is still facing strong inflationary pressure, we are confident that the brand is well placed to take advantage of movement in working patterns and our good value offer for those wanting to enjoy eating out. Our strong sales and the positive performance of all our new store openings gives me confidence our current strategy is the right one, and we will continue to expand our estate at the current pace, which will be supported by the exciting new product launches we have lined up for Autumn and the Festive period as well as the fantastic service provided our store teams.”
