ProCook is set for a substantial retail expansion as it records notable sales growth.
- Sales surged by 8.8% to £17 million in the second quarter, driven by retail and online strength.
- The first half of the year saw sales rise by 7.5% to £28.3 million on a like-for-like basis.
- ProCook plans to open 10 new stores, with five more set to open by November’s end.
- Chief Executive Lee Tappenden forecasts enhanced market presence and sustainable growth.
ProCook has embarked on a strategic store expansion plan ahead of the Christmas season, buoyed by a strong financial performance in the second quarter. Sales increased by 8.8%, reaching £17 million, underpinned by robust retail and e-commerce activities. These figures reflect a 7.1% increase in retail sales and a 12.2% rise in online sales, showcasing the company’s ability to leverage both physical and digital channels effectively.
The company’s impressive half-year performance includes a 7.5% increase in sales, totalling £28.3 million, with like-for-like sales growing by 4.2%. This consistent growth aligns with ProCook’s strategic objective to expand its market share in the fragmented kitchenware sector, as evidenced by its investment in new store openings.
ProCook has committed to opening 10 new locations within the current financial year, successfully launching four in the initial half. By the end of November, an additional five stores are expected to commence operations, aligning with the peak trading period and enhancing the brand’s visibility and customer reach.
Chief Executive Officer Lee Tappenden expressed confidence in the company’s growth trajectory, attributing it to strong trading momentum and excellent new store performance. He emphasised the company’s commitment to delivering sustainable and profitable growth, underscoring the importance of improving brand awareness and capturing a greater market share.
Tappenden’s forward-looking statements highlight a strategic vision aimed at fostering a customer-focused approach, seeking not only to sustain but also to accelerate the company’s growth. The anticipation of the peak trading season indicates a readiness to capitalise on increased consumer demand, driven by ProCook’s comprehensive retail strategy.
ProCook’s strategic expansion and strong performance position it well for the upcoming peak trading season, heralding further growth.
