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Coffee#1 achieves record sales week as strong first quarter sales drive positive start to the financial year

Neighbourhood coffee shop brand Coffee#1 has announced strong trading for the first three months
of its financial year (1st June to 31st August 2023), with sales growth of 21.9% year on year.

Founded in 2001 and now operating across Wales the Southwest, the South Coast and parts of the
Midlands, Coffee#1 also opened three new stores during the same period. The new stores in
Godalming, Yate and Cwmbran performed ahead of expectations, with weekly customer visits
exceeding the average achieved in the wider estate, which now has 115 stores. At the same time,
the strong sales for Quarter one were supported by robust customer volume growth of 2.6%, and
the strong performance of the brand’s iced coffee range, which saw 39% like for like growth basis.

Coffee#1 also continued to grow its App membership, with over 600,000 transactions being made
through the App in the quarter, which was 25.6% higher than in the prior year. Over 28% of all
transactions are now through the Coffee#1 App, with users able to combine payment with the
brand’s loyalty scheme and enjoy a range of exclusive discounts and offers.

The first quarter results come as Coffee#1 recorded a record first £1m sales week for the week of
the 23rd October 2023. The sales week is 8% higher than the company’s previous record, and was
underpinned by customer numbers above 275,000 for the week for the first time.

The quarter also saw the relaunch of the company’s Long Service Legends scheme with over 800 of
the company’s approximately 1,000 employees with 1 year or more service being recognised.

Commenting on the first quarter results and the record sales, Coffee#1 Managing Director Bruce
Newman said: “The team have come up trumps once again and have delivered a really impressive
first quarter. Combined with our record sales week, it’s clear we are starting to build some real
momentum, and I’m hugely encouraged by the performance of the business as we head into the
festive trading period.

“Our team is the reason we are seeing positive results, and relaunching the Long Service Legends
Scheme is an important part of recognising that contribution and building team strength as we move
forward. Despite the significant inflationary pressures and costs we face as a business, I feel
cautiously optimistic for the remainder of our financial year.”