Coffee Republic poised for expansion
22/12/2005 - 09:49:41Coffee Republic pledged to open its first new store in four years today after drawing encouragement from its recently launched deli bar format.
Nine of the firm’s 46 outlets have so far been converted into delis – offering fresh food as well as coffee – and a further four bars have been franchised since it launched its franchise scheme in November.
In the six months to September, Coffee Republic reported an operating loss of £661,000 (€971,000), against a deficit of £800,000 (€1.17m) in the same period in 2004. Sales fell 13.7% to £7.7m (€11.3m) after the closure of several “non-core” bars.
The company said it hoped to restore profitability in 2006, when it is planning to open new franchised sites.
