ProCook revenues surge amid successful Black Friday and Xmas
During the third quarter ProCook opened five new stores as planned, taking the year to date total up to nine new stores, with two smaller garden centre stores closed during the quarter
UK-based kitchenware brand ProCook has reported a 11.2% increase in revenues to £25.6m and like-for-like revenue increase by 3.4% for the 12 weeks ended 5 January 2025.
The group stated that actions taken to elevate its Black Friday and Christmas campaigns resulted in a “strong trading performance”.
Total retail revenue in Q3 increased by 12.4% to £16m benefitting from like for like growth of 0.9%, having now reported six consecutive quarters of positive like for like growth, with the impact of new store openings contributing a further 11.5% points.
The group’s ecommerce revenue was also up 9.2% to £9.6m, reflecting like for like growth of 7.1% driven by increased traffic and conversion year on year, and sales on the relaunched Amazon UK marketplace contributing 2.1% points of growth.
During the third quarter ProCook opened five new stores as planned, taking the year to date total up to nine new stores, with two smaller garden centre stores closed during the quarter.
Lee Tappenden, chief executive officer, said: “We have delivered a strong trading performance in the important peak period, continuing to outperform the market, whilst providing excellent-rated service to our growing customer base. Performance was particularly strong in the later part of the quarter as a result of the actions we took to elevate our Black Friday and Christmas campaigns this year, supported by improved promotional and seasonal product ranges, and stronger inventory levels.
“This performance was in line with our expectations for the full year which, notwithstanding ongoing consumer uncertainty, reflects the typical benefit from second-half weighting of revenue and profitability, combined with our retail network expansion, margin improvements and ongoing cost discipline.”
Tappenden added: “We have made good progress against our strategic priorities and continue to invest responsibly in the areas that will support profitable growth in the medium term. We expect to open a further three new stores in the remainder of the financial year, taking the total up to 12 new stores this financial year.
“We therefore remain confident in delivering continued strategic progress and sustainable growth over the medium term, as we work towards our ambitions of 100 stores, £100m revenue and 10% operating profit margin.”
