Caffè Nero reports sales reaching £150m for H1 FY2023

The coffee chain opened seven stores during the same period.

Premium coffee brand Caffè Nero reported sales in the UK of £150m, averaging 104% of pre-pandemic levels and an increase of 17% for the same period in 2021 during the first half of its current financial year FY2023, June 2022 to November 2022 period.

The chain also reported that sales during the key Christmas trading month of December 2022 reached 110% of pre-pandemic levels, a 9.5% like-for-like increase compared to December 2021. The UK business achieved record weekly sales during w/c 5th December of £7.9m and served 7.8 million U.K. customers during the month.

The sales were attributed to benefits from the group engaging with new delivery partners Deliveroo and Just Eat, generating £3.5m of revenue.

The group’s Coffee At Home business for the same period also achieved sales of £1.5m. This was supported by a new strategic partnership with Waitrose and continuing momentum from its own channels and retail partnerships with Amazon, Ocado, Sainsbury’s and the Ambassador Theatre Group.

Meanwhile, Caffè Nero also reported an increase of 65% in its UK sales from £153.3m to £254m in the financial year ending May 2022 (FY2022)

UK EBITDA was at £46.7m, which was 19% above 2021. The group attributed this to the lifting of COVID-19 restrictions during the financial year as well as the resumption of Caffè Nero’s store opening programme which saw four new stores opened in the UK.
 
At the group level, worldwide Group sales increased by 70% to £389m in FY2022, with Group EBITDA at £57.7m, 50% above 2021. During that period, the Group opened 22 new stores across the world.