Expansion at kitchenware group heats up with new stores adding to strong performance
ProCook Group, the kitchen equipment designer and retailer, has said it “significantly outperformed” the market in the first three months of this year with higher revenue and a number of new store openings.
As a result, the group, based in Stonehouse, Gloucestershire, is confident in making good progress towards its medium-term ambitions of 100 stores, £100m revenue and 10% operating profit margin.”
During the 12 weeks to 30 March ProCook opened three new stores, taking its total to 12 openings in the year – ahead of its planned range of five to 10 a year, with a further three new stores expected to open this quarter.
The group, which describes itself as the UK’s leading direct-to-consumer specialist kitchenware brand, designs, develops and sells a high-quality range of direct-sourced and own-brand kitchenware.
It sells directly through its website and through 66 own-brand retail stores across the UK.
Total revenue during the quarter increased by 17.8% to £15.5m, with ecommerce sales growth particularly strong, up by 23.4%.
Lee Tappenden, ProCook chief executive officer, said: “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.”
Founded more than 25 years ago as a family business, ProCook has since grown into a market leading, multi-channel specialist kitchenware company, employing more than 600 people and operating from a store support centre in Gloucester.
As a B Corp, a Real Living Wage employer and a certified Great Place to Work, it is committed to being a socially responsible and environmentally conscious business for the benefit of all its stakeholders.
