ProCook revenues rise 3% over Golden Quarter
The retailer’s performance over the third quarter was helped by the opening of two new stores, as retail revenues increased by 9.5% to £14.3m
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ProCook has revealed that total revenues over the third quarter increased by 3% year-on-year to £23.1m.
While the kitchenware retailer’s total like-for-like revenues dipped by 0.4% over Black Friday and Christmas, its performance was better than the declines of 7.9% and 1.8% in the first and second quarters.
The retailer’s performance over the third quarter was helped by the opening of two new stores, as retail revenues increased by 9.5% to £14.3m – growing 3.1% on a like-for-like basis.
Meanwhile, online like-for-like revenues dropped by 5.1%. The retailer attributed its online performance to disruption during the first six weeks of the quarter, following the launch of its new website at the end of summer 2023.
Lee Tappenden, chief executive of ProCook, said: “I am pleased that trading metrics are continuing to improve despite the difficult consumer backdrop, and that we have delivered a robust Black Friday and Christmas trading period, outperforming our market.
“Whilst we remain cautious about the timing and pace of market recovery, we are confident in our proposition and energised by the opportunities available to us to build an even stronger customer-focused business as we continue to make good strategic progress which will allow us to accelerate profitable growth as trading conditions improve.”
Despite breaking even during the Golden Quarter, ProCook warned of the “geopolitical impact on supply chains” from the ongoing situation in the Red Sea.
