Caffe Nero bounces back from the pandemic as sales more than double
Caffe Nero bounces back from the pandemic as sales more than double in the six months to the end of November
By Daily Mail City & Finance Reporter
Published: | Updated:
Caffe Nero roared back from the pandemic – more than doubling sales in the six months to the end of November.
The coffee chain, which has more than 650 stores in the UK, topped pre-pandemic profits as Covid restrictions eased.
It reported sales of £136million, a 211 per cent jump from a year earlier, with profits of £29million.
Cafe Nero, which has more than 650 stores in the UK, topped pre-pandemic profits as Covid restrictions eased to report a 211% jump in sales
It has recovered strongly and sales are around 90 per cent of pre-pandemic levels, and expected to improve.
Despite the Omicron variant, sales in December and January were 82 per cent of pre-pandemic levels.
Founder and chief executive Gerry Ford said business since the summer has been ‘encouraging’.
The turnaround comes after it spent the year to May 2021 in ‘survival mode’, haemorrhaging cash while cafes were shut or limited to takeaways.
It lost £17million that year because of the restrictions, after sales fell by more than a third to just £153million.
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