ProCook Q2 sales jump 13.2% despite impact of heatwave
ProCook has seen its second quarter sales jump by 13.2% to £24.1 million despite the impact of this summer’s heatwave on trading.
In the 16 weeks to 11 October, total like-for-like revenue rose by 6.2%.
Subscribe to TRBRetail revenue increased by 10.6% driven by growth from new store openings. Retail like-for-like revenue edged down 0.7%, however, as the hot weather reduced footfall in the first half of the quarter.
Meanwhile, ecommerce revenue climbed by 17.9%, primarily driven by continued growth in traffic.
The performance meant ProCook delivered record first half revenue of £39.7 million, up 16.3% year-on-year and 8.3% on a like-for-like basis.
The retailer opened three new stores in the first half, along with two relocations and two refits. After two store closures, its retail estate stood at 80 stores at the end of the period, 13 of which are now in its new format.
ProCook said it is well positioned for the upcoming peak trading period and is confident of delivering a full year performance in line with market expectations.
Lee Tappenden, chief executive, said: “Our strategy continues to drive significant market share gains, with trading performance strengthening as we moved through the second quarter following the extreme heat during the summer, to deliver a record first half trading performance.
“Whilst mindful of the unpredictable macro backdrop, we are well positioned for the important peak trading period, with inventory in place across compelling Black Friday and Christmas ranges. We are, therefore, confident in delivering a strong full year performance, in line with market expectations.”
