ProCook is enhancing its market position with strong quarterly sales and strategic store openings.
- The company reported an 8.8% increase in sales, reaching £17 million in the second quarter.
- Retail and ecommerce sectors showed significant growth, with increases of 7.1% and 12.2%, respectively.
- ProCook’s strategic plan includes opening ten new stores in the current financial year.
- CEO Lee Tappenden emphasized enhancing brand awareness and capturing market share.
ProCook, a leading kitchenware retailer, has demonstrated robust growth in its recent financial performance. Sales in the second quarter increased by 8.8% to £17 million, a result of strong retail and online performance. This growth is part of ProCook’s strategy to strengthen its market presence ahead of the busy holiday season.
The company’s retail sector recorded a 7.1% increase, while the ecommerce division surged by 12.2%. For the first half of the financial year, sales climbed by 7.5% to £28.3 million, with a like-for-like increase of 4.2%. These figures indicate a well-balanced growth in both physical and digital retail spaces.
To capitalize on this momentum, ProCook plans to open ten new stores within the current financial year. In the first half, four locations were launched, and a further five are slated to open by the end of November. This expansion is strategically timed for the peak trading season, aiming to enhance customer reach and boost sales.
ProCook’s Chief Executive, Lee Tappenden, expressed optimism about the company’s direction, highlighting the importance of increasing brand awareness and capturing a greater share of the fragmented kitchenware market. “We have continued to build on recent momentum and outperform the market,” Tappenden stated, reinforcing the company’s commitment to sustainable growth.
Tappenden remarked further on the group’s success, citing strong trading momentum and the positive performance of new stores as drivers of future growth. His focus on delivering a stronger, customer-centric business underscores the company’s strategy to ensure profitability and stakeholder satisfaction.
ProCook’s strategic initiatives and robust performance position it well for sustainable growth in the upcoming peak trading period.
