ProCook hails strong peak season trading
ProCook has grown its like-for-like revenue by 17.2% in its third quarter following a strong performance in its stores and online.
In the 12 weeks to 4 January, total revenue increased by 28% to £32.8 million.
Subscribe to TRBEcommerce revenue climbed by 30%, with like-for-like growth of 28.9%, driven by higher levels of traffic and average order values.
Meanwhile, retail revenue rose by 26.8% and like-for-like sales by 9.1% in what was the retailer’s tenth consecutive quarter of like-for-like growth.
As planned, ProCook opened four new stores in the period which has taken its total retail estate to 75 sites.
Lee Tappenden, chief executive of ProCook, said: “The group’s excellent peak season trading performance has built on our strong momentum resulting in our ninth consecutive quarter of growth, with substantial like-for-like revenue growth in both retail and ecommerce channels. These results reflect strong execution of our strategy and the outstanding customer focus and commitment demonstrated by our colleagues.
“Continued disciplined investment is supporting our results, enabling us to significantly outperform the market and capture increased share, with our active customer base growing to new heights driven by record new customer acquisition as more customers discover our brand for the first time and enjoy our award-winning quality products and excellent-rated service.”
ProCook said it is on track to deliver a strong full year performance, with revenue anticipated to be slightly ahead of market expectations and operating profit and pre-tax profit to be in line.
Tappenden added: “These results, together with our expanding retail footprint and our enhanced product offering which is clearly resonating with consumers, mean we are confident in delivering a strong full year performance. We are firmly on track to achieve our medium-term ambition of 100 UK retail stores, £100 million revenue and 10% operating profit margin.”
