ProCook sales soar in ‘strong final quarter’
ProCook reported a “strong final quarter” as sales surged 17.8% to £15.5m in the 12 weeks to 30 March.
ProCook hailed a “strong” finish to the year as final quarter sales surged 17.8% to £15.5m.
The kitchenware brand’s retail revenue rose 14.7% to £9.6m in the 12 weeks to 30 March, which it attributed to new store openings and the launch of coffee machines during the period.
Online sales rocketed 23.4% in the fourth quarter, up 19.9% on a like-for-like basis, driven in part by the retailer’s relaunched Amazon UK marketplace.
ProCook opened three stores in the final 12 weeks, bringing the total to twelve new shops during the year ahead of its planned five to ten range.
The retailer said its strong Q4 led to a record full year sales performance of 11% growth on prior years and 4.9% increase on a like-for-like basis.
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ProCook chief executive Lee Tappenden said: “We have delivered a strong full year trading performance, with momentum building as we moved through the year.
“Our successful store opening programme, electricals range expansion and improved promotional and seasonal offerings, combined with enhanced marketing and customer experience, have enabled us to significantly outperform the market.
“Whilst we are mindful of the geopolitical backdrop, our momentum is underpinned by record active customers and customer acquisition, and expansion of our store network, as we benefit from the delivery of our strategic priorities and responsible investment in areas that will support profitable growth.
“We are, therefore, confident in making good progress towards our medium-term ambitions of 100 stores, £100m revenue and 10% operating profit margin.”
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