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Coffee#1 gains ground amid strong UK trading

The Caffè Nero Group-owned coffee chain now operates 110 stores in the UK following three new openings and is trading at 120% of 2019 levels, with further growth anticipated in 2023

Coffee#1 is now trading at 120% of 2019 levels following strong Christmas trading | Photo credit: Coffee#1

Coffee#1 has bolstered its presence across the UK after opening three new stores in the Midlands and the Southeast of England and reporting strong trading over the Christmas period.
New stores in Leek, Macclesfield and Epsom took the Caffè Nero Group-owned coffee chain’s store count to 110, with the new outlets holding combined capacity for nearly 200 customers and creating 30 jobs.
In a press release, Coffee#1 said the new stores marked an acceleration of outlet expansion despite growing cost pressures, with the business having now opened 10 new stores since the pandemic.
In November 2022, Coffee#1 credited its growing UK store portfolio, delivery and app-based ordering for lifting revenues to 111% of pre-pandemic levels between June and October.
However, the coffee chain’s latest reporting shows strong Christmas trading has now pushed revenues to 120% of 2019 levels.
“We continue to be encouraged by the performance of the business which is testament to the excellence and hard work of our team. I remain confident that the brand is well placed to take advantage of changes in working patterns and I see no reason why Coffee#1 shouldn’t
continue to expand through the course of the financial year,” said Coffee#1 Managing Director, Bruce Newman.
Founded in Wales in 2001, Coffee#1 sold a majority stake to The Caffè Nero Group, which operates the Caffè Nero and Harris+Hoole brands, in January 2019.
In February 2022, The Caffè Nero Group acquired the remaining 33% stake in Coffee#1 from Welsh brewery, S.A. Brain.

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