Caffè Nero is back in the black after flat white prices increased by 12%

Pret a Manger raised its subscription prices last year after the cost of coffee beans soared. Photo: PHIL NOBLE/Reuters

Pret's CEO Pano Christou said at the time: “We have invested heavily in our teams, increasing salaries by almost 20 percent over the last year. Food costs continue to be an issue that needs to be addressed. And energy costs have risen by 200% this year.

Pret a Manger has cut prices on a number of its best-selling sandwiches and baguettes since the start of 2024 after coming under fire for its high-priced food. prices.

Rising prices for takeaway coffee in recent years have also fueled a boom in demand for coffee machines as shoppers look to offset costs by making more coffee at home.

Electronics retailer Currys said in December that coffee machine sales in the two weeks leading up to Black Friday in November 2023 were 105% higher than the same period last year.

Caffè Nero reported like-for-like sales. grew by 10% in the first half of the current financial year from June to November 2023, adding that sales reached a record week at the end of November.

Gerry Ford, founder and chief executive of Caffè Nero, said: “We saw a very encouraging first half. Despite continued significant inflationary pressures, which had a significant impact on our business, we achieved strong sales growth and demonstrated strong cost control.»

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