The Caffè Nero Group-owned coffee chain achieved three record sales weeks in December 2022, which it says demonstrates the growing ‘relevance and appeal’ of the brand across the country
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A Coffee#1 store in Leek, Staffordshire, UK | Photo credit: Coffee#1
UK coffee chain Coffee#1 has said it will accelerate its growth plans in 2023 following consecutive weeks of record sales in December 2022.
The Cardiff-based coffee chain, which was acquired by Caffè Nero in February 2022, said it achieved 18% like-for-like sales growth in the four weeks ending 25 December 2022 compared to the same period in 2019.
Sales exceeded £1.1m ($1.3m) in three consecutive weeks of the reporting period.
Coffee#1, which reported trading at 120% of pre-pandemic levels in January 2023, operates 110 stores across Wales, the Southwest and the Midlands.
“Our team has pulled it out of the bag again in delivering consecutive weeks of record sales and making 2022 the strongest festive trading period the business has ever enjoyed. While the impact of rising costs remains challenging, I’m encouraged by the relevance and appeal of our brand in existing and new locations. This gives me confidence to accelerate our growth plans in 2023,” said Bruce Newman, Managing Director, Coffee#1.
Caffè Nero became the majority owner of Coffee#1 after acquiring a 67% stake from Welsh brewer and retailer SA Brain in January 2019. The company purchased the remaining 33% stake in the Cardiff-based coffee chain last year.