Caffe Nero is set to expand its network of coffee shops with “dozens” of new stores over the next year, as its sales climb towards pre-pandemic levels.
The café chain has been making headway with its post-Covid-19 recovery, hailing it being cash positive for the past 11 months in its latest trading update.
Nero sales have also surged 160 per cent since January, as high street stores near 2019 sales levels. The café chain expects that its sales will hit 90 per cent of levels seen in 2019 by the end of next month.
“We are coming back. Not there yet, but Caffè Nero is on the road to recovery. Each month trading is getting stronger and our prospects and opportunities going forward are becoming more encouraging,” founder and CEO Gerry Ford said.
The CEO added that following a strong first quarter in the weeks between June and August, he expects its current sales trend to continue and “strengthen further over the coming weeks and months.”
“This solid trading is very encouraging and is providing a good platform for us to restart the engines and open a series of new stores over the next 12 months.”