Caffé Nero continues expansion despite recession

24 November 2008 by
Caffé Nero continues expansion despite recession

Caffé Nero remains committed to expansion both in the UK and internationally despite the spectre of global recession.

While acknowledging a likely fall in consumer spending as the UK economy heads into recession, the coffee bar chain today insisted the public would keep buying their "affordable treat".

Caffé Nero currently operates 393 stores in the UK and abroad, having launched its first international business in a joint-venture in Turkey in October 2007.

Next month it will launch its first outlet in the Middle East in the Dubai Mall shopping centre.

Although the company conceded trading from December to May 2009 would be more challenging than the six months preceding it, it remains bullish, with plans for at least 35 outlets in the UK and abroad.

Gerry Ford, chairman of Caffé Nero, said: "Trading has proved resilient to date with positive like for like sales maintained in the initial months of the current year in spite of weakening consumer outlook."

Turnover in the year to 31 May increased 19% to £129.3m (2007: £108m). Pre-tax profit jumped 43% to £13.7m (2007: £9.6m).

Coffee Republic to raise £800,000 to pay off debt>>

Coffee shops ‘more popular than pubs' for catching up>>

Starbucks blames UK for flat international sales>>

Which? divulges a taste for independent coffee chains>>

By Chris Druce

E-mail your comments to Chris Druce here. jobs
Looking for a new job? Find your next restaurant job here with jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking