Caffè Nero UK sales up 3.7%
It also announced plans to open a further 85 stores worldwide and to create a further 650 jobs in 2018.
Caffè Nero has announced its UK results for the period June 1 2016 to May 31 2017 which show revenue up 8% and positive like for like sales growth of 2.8 %. In the period from June 1 2017-December 31 2017, its global like for like sales also grew by 3.7%.
The business has achieved 80 consecutive quarters of positive like-for-like sales growth since its inception in 1997, with the latest results marking another successful year for the business, which has remained focused on a steady UK and global expansion programme. Caffè Nero plans to open a further 85 stores worldwide and to create a further 650 jobs in 2018.
Caffè Nero CEO and chairman Gerry Ford said, “This year we have continued to focus on expanding our store base and delivering exceptional quality across our coffee products, our new and improved food options, and our service throughout our estate. We have also introduced a new App for rapid payment and loyalty rewards that has been particularly successful with our customers.
It’s also an exciting time with the introduction of new products like Cortado and more customer offerings like our new Caffè Nero App. Our goal remains to be the highest quality coffee brand in all the communities we serve throughout the UK. I have every confidence in our product innovations and the potential of our people to day in and day out provide UK customers with a great experience.”
In the last three years alone, Caffè Nero UK has invested more than £55m in funds for capital expenditure. During the same three year period, Caffè Nero has also made more than £160m in payments to the UK Government. This reinvestment, over the last three years, has created more than 1,000 jobs.
