Joe & The Juice reports record 2022 UK revenues

A Joe & The Juice store in St Albans, Hertfordshire

Joe & The Juice achieved record UK revenues last year and is expecting sales to grow at least 20% in 2023.
 

The Danish coffee and juice chain entered the UK in 2009 with a store on London's Regent Street and currently operates 67 outlets across the UK, primarily in the capital. 

Annual sales grew 67% to £45.7m ($57.5m) for the 12 months ended 31 December 2022 – more than double its forecast 30% revenue growth. 

In UK accounts filing, Joe & The Juice credited ten new stores and increased digital orders via its JOE App as driving strong sales. 

However, Joe & The Juice posted a pre-tax loss of £5.1m ($6.5m) for the year, against a pre-tax profit of £1.1m ($1.m) in 2021 which it attributed to Covid-19-related temporary store closures at the start of last year. 
 

The Copenhagen-based coffee and juice chain expects 20-30% UK sales growth in 2023, which, if achieved, would result in revenues of more than £55m ($69m). 

Joe & The Juice, which currently operates 360 stores globally, saw total 2022 sales increase 49% to a record DKK 1.7bn ($247.6m). 

Earlier this month, US investment firm General Atlantic agreed to acquire a majority stake in Joe & The Juice to reduce its debt and grow its presence across the US, Europe and the Middle East. 
 

The sum of the deal, which is expected to close by the end of the year, was not disclosed.