ProCook, a leading kitchenware retailer, is reporting a notable rise in sales as it prepares to expand its retail footprint before the holiday season.
- In the second quarter, sales rose by 8.8% to reach £17 million, supported by strong performance in both retail and online platforms.
- Comparable store sales increased by 4.7%, with retail growing 7.1% and e-commerce seeing a 12.2% rise.
- The company is set to open ten new stores this year, with plans to launch five more by November’s end.
- CEO Lee Tappenden expresses optimism about increasing brand awareness and market share.
ProCook, recognised for its kitchenware solutions, experienced an 8.8% sales increase in its second quarter, reaching £17 million. This growth was spurred by robust performance in both physical retail and online channels. The positive trajectory is further evidenced by a 4.7% boost in like-for-like sales, showcasing a balanced expansion across platforms.
The retailer’s physical stores recorded a 7.1% growth, whereas its online sales surged by 12.2%, indicating a strong digital presence that complements its retail operations. This dual-channel growth strategy underscores ProCook’s adaptability in a dynamic market environment.
For the first half of the financial year, ProCook reported a total sales increase of 7.5%, amounting to £28.3 million, with like-for-like sales climbing by 4.2%. Despite rising operating costs, the company’s gross profit remained aligned with projections, demonstrating effective financial management.
ProCook’s ambitious expansion plan includes opening ten new stores within the current fiscal year, with four already unveiled in the first half. The momentum is set to continue with an additional five stores expected to launch by November, strategically timed to capitalise on the peak trading season.
Chief Executive Officer Lee Tappenden elaborated on this strategy, emphasising the importance of ‘improved brand awareness and an increased share of the fragmented kitchenware market’. Tappenden noted the company’s success in maintaining trading momentum and product availability, which positions it well for the upcoming holiday season.
ProCook’s strategic growth and strong financial performance underscore its commitment to expanding market reach and delivering sustained profitability.
