• Nero Group sales growth was 11% year on year in Q3
• Nero Group sales growth was 12.6% for the first three-quarters of the financial year
• Caffè Nero and The Nero Group continued its global roll-out, opening 15 stores in Q3
Q3 Results
Premium coffee house brand Caffè Nero announced robust trading for the Third Quarter of its financial year (1st December- February 28th) building on its strong first half-year performance.
The Nero Group delivered 11% sales growth across the world with 5.5% like for like sales growth during Q3. In the UK for the same period, total sales growth was 8% in Q3 and like for like sales were up 6.2% vs Q3 last year.
Sales for The Nero Group across its 11 trading markets through the first three quarters of its financial year were up 12.6% vs last year and up 10.2% for the Caffè Nero UK business vs last year.
The strong Q3 sales performance in the UK was supported by impressive Christmas trading in the United Kingdom, with over 2m customers served during December and a sales increase of 14% vs the previous year. During the Christmas period, Caffè Nero U.K. also had two record sales weeks of over £9m and the highest ever single day sales at £1.5m.
The Group continued its new store opening programme in Q3, opening 15 new stores during the period. This takes the total new stores operating at Group level during the financial year to date to 74, including its first store in Saudi Arabia. In the UK, Caffè Nero opened a further 4 new stores in Q3, increasing the total number of new openings this financial year in the U.K. to date to 15. As a result, at the end of February 2025, the Group operated 1,121 stores across 11 countries with 11,000 employees, serving over 155 million customers a year. In all, 94% of all the Nero Group’s stores are company-owned.
Gerry Ford, Founder and Group CEO, commented “We have a different model than most other companies in our sector. We are an independent, home-grown start-up focussed on the premium end of the coffee market that now has scale. We own our stores and have built our business with strong foundations over many years. I think this is paying off as we continue to grow our brands across the world.”
Announcement
Gerry Ford also announced that Will Stratton-Morris, CEO in the U.K. for Caffè Nero, has stepped down from his current position and from the U.K. Board as of May 31st 2025. Will Stratton Morris has taken up a new Group role as Chief Business Development Officer starting on 1st June 2025 – the beginning of the new financial year (FY26).
Gerry Ford stated “Will has worked very hard over the past 7+ years to promote the Caffè Nero business in the United Kingdom. The Board and I would like to thank him for all his effort and commitment. As we move into a phase of greater expansion, I’m sure Will’s skill sets will prove extremely useful to the Group in establishing new business partnerships, developing our footprint in new countries and securing new commercial relationships.”
The Caffè Nero business in the UK will be led by Gerry Ford-Group CEO, Ben Price-Group CFO, and Glyn House-CN UK Managing Director. The process to appoint a new CEO for the UK Caffè Nero business is well underway, and an appointment will be made in the months ahead.
Notes to Editors:
About Caffè Nero
• Caffè Nero is the largest independent coffee house group in Europe.
• Caffè Nero remains a family-owned and operated business.
• The Nero Group operates over 1,100 stores across 11 countries
• The Group has more than 700 stores across the UK.
• The Nero Group currently employs over 11,000 people worldwide, with over 7,000 people in the UK
• Since 2016, through its charitable foundation, Caffè Nero has donated over $850,000 to UK and international humanitarian causes, as well as supporting and funding coffee farmers in the communities which produce Caffè Nero’s green coffee beans
• Caffè Nero was founded by Gerry Ford in 1997 and he continues to be the Group CEO.
Details
| Published: | March 13th, 2025 |
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