Joe & the Juice increases revenue by DKK 600M
Joe & the Juice has reported a significant revenue increase of approximately 600 million Danish kroner, reaching 2.4 billion for 2023. Their operating income hit 178 million kroner, a success not seen in years, although the time frame is unspecified. CEO Thomas Nørøxe expressed satisfaction with their strategy, emphasizing resilience amidst inflation impacting consumer spending. The chain still operates at a loss, but improved to a 108 million kroner deficit compared to the previous year’s 260 million kroner. With expectations of a positive net income this year, Joe & the Juice expanded by 40 new locations across 19 countries, totaling 363 worldwide. Most outlets are company-operated, with 49 run by franchisees. Founded in Copenhagen by Kaspar Basse in 2002, ownership has changed hands, now primarily held by General Atlantic. Basse resigned from leadership roles after the capital fund’s major stake acquisition last year.