The UK coffee chain achieved 22% year-on-year revenue growth, driven by rising iced beverage sales and increased app membership
Coffee#1 followed its robust first quarter with a ‘record’ week in October 2023 | Photo credit: Coffee#1
Cardiff-based Coffee#1 has credited strong iced coffee sales and rising loyalty membership for its strong first quarter.
The coffee chain, which was acquired by Caffè Nero Group in February 2022, achieved 22% year-on-year sales growth in the three months ended 31 August 2023 with the brand’s iced coffee range increasing 39% on a same-store-sales basis.
Founded in 2001, Coffee#1 opened three new stores during the period to reach 115. The outlets in Godalming, Yate and Cwmbran are currently performing ‘ahead of expectations’ with weekly customer footfall exceeding the average from the coffee chain’s wider estate.
Additionally, Coffee#1 reported more than 600,000 transactions were made through its app during the quarter, 25% higher than the same period in 2022. Nearly 30% of all transactions are now made through the Coffee#1 App, which can be linked with the brand’s loyalty scheme to offer customers discounts and offers.
“The team have come up trumps once again and have delivered a really impressive first quarter. It’s clear we are starting to build some real momentum, and I’m hugely encouraged by the performance of the business as we head into the festive trading period,” said Managing Director Bruce Newman.
Coffee#1 followed its robust first quarter with a ‘record’ week in October 2023 where sales climbed 8% above its previous best and weekly customer footfall exceeded 275,000 for the first time.