ProCook sales rose 8.8% to £17m in its second quarter driven by a strong retail and online performance, as the kitchenware retailer prepares to open a raft of stores before Christmas.
Second quarter like-for-likes increased by 4.7%, with retail and ecommerce growing by 7.1% and 12.2%, respectively. For the first half, ProCook’s sales climbed by 7.5% to £28.3m and by 4.2% on a like-for-like basis. Gross profit and operating costs were in line with expectations.
ProCook plans to open 10 new stores in the current financial year, and launched four in the first half with a further five stores set to open by the end of November in time for the peak trading season.
Chief executive Lee Tappenden said the new locations will provide “improved brand awareness and an increased share of the fragmented kitchenware market”.
Related Story
He added: “We have continued to build on recent momentum and outperform the market, with strong trading in the second quarter, as we made significant progress in delivering our clear plan to accelerate profitable growth.”
“The group’s trading momentum, encouraging performances from our new stores and strong product availability, positions us well for the important peak trading period.
“We look forward to continuing to build a stronger customer-focused business and deliver sustainable and profitable growth for all our stakeholders in the current financial year and beyond.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
