Kitchenware specialist ProCook has toasted a successful Christmas, as it outperformed its competitors and continued to grow at pace.<\/p>\n
The retailer increased revenues by 11% to \u00a325.6m in the last 12 weeks – a combination of 3.4% like-for-like growth and the impact of store openings throughout the year. It said its performance was 10% ahead of the wider market.<\/p>\n
ProCook’s revenue growth is accelerating and this is likely to continue. It opened five stores in the last quarter of 2024, adding to four earlier in the financial year, although it did close two smaller garden centre stores.<\/p>\n
Lee Tappenden, chief executive of ProCook, 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.<\/p>\n
“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.”<\/p>\n
The importance of the third quarter is demonstrated by the fact that it generated \u00a325.6m sales in the 12-week period, compared with \u00a328.3m in the 28-week first-half of the year.<\/p>\n
The Gloucester-based B Corp has 64 stores and has set its ambitions of achieving 100 stores, \u00a3100m revenue and 10% operating profit margin.<\/p>\n
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.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Retailer’s momentum gathers pace as peak period declared a success<\/p>\n","protected":false},"author":18,"featured_media":18017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120781,47995],"coauthors":[81],"class_list":["post-18341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","category-retail","tag-featured-story"],"yoast_head":"\n