Iced coffee boosts Coffee#1 2023 sales to £53.8m

The brand said cold coffee sails were four times better than pre-covid levels.

Coffee#1 reported a sales increase of 22% to £53.8m for the year ending May 2023 due to a strong year in the cold drinks categories.

Sales of cold coffee grew to four times the size of pre-covid levels. Concurrently, Coffee#1’s food categories performed well with sales growth of 17.5% and more customers “attaching” a food item to a drink sale than in any prior year.  

During FY2023, Coffee#1 expanded its presence in the delivery market adding Uber Eats to an already established partnership with Just Eat. Delivery was available from a total of 83  stores of the 112 trading at the end of the financial year.  

The brand also reported strong trading for the first half of the year (June 2023-November 2023), with sales of £29.5M, representing a total sales growth of 18.8% over the prior year.  

Coffee#1’s like-for-like sales performance for the same period remained robust at 8%, underpinned by sustained customer growth of 1.2%.

“I have been delighted to see the recovery of the business after the Covid pandemic with progression in sales levels, several new programs of learning & development landing and the resurgence of energy and  culture which is so important to our brand. The business has proven to be highly resilient and while we take nothing for granted, we are confident that there is remaining scope for Coffee#1 to grow sustainably and successfully,” Coffee#1 Managing Director Bruce Newman said.

Currently, Coffee#1 has 118 coffee shops.