ProCook to open more stores as trading momentum continues

Gloucester-headquartered kitchenware firm ProCook reported strong trading in its second quarter for the 16 weeks to October 13 and revealed it planned to open ten new stores in fiscal 2025, including in Guildford, Exeter and Bournemouth.

Four (Bracknell, Birmingham, Newcastle and Oxford) were opened in the first half (to October 13) and the firm said it was committed to opening a further six in the second half (Epsom, Norwich, Exeter, Guildford, Birmingham and Bournemouth).

READ MORE: Revenues rise at ProCook

CEO Lee Tappenden said in a stock market statement: "We have continued to build on recent momentum and outperform the market, with strong trading in the second quarter, as we made significant progress in delivering our clear plan to accelerate profitable growth."

In Q2, total revenue came in at £17 million - up 8.8% year-on-year, reflecting continued trading momentum and market outperformance. Retail revenue increased by 7.1% while e-commerce revenue increased by 12.2%, reflecting a significantly improved performance on last year, the company said.

Total like-for-like revenue grew by 4.7%.

"We are pleased to be expanding our store network with ten new stores in prominent retail destination centres," added Tappenden.

"The group’s trading momentum, encouraging performances from our new stores and strong product availability, positions us well for the important peak trading period.

"We look forward to continuing to build a stronger customer-focused business and deliver sustainable and profitable growth for all our stakeholders in the current financial year and beyond."

Direct to consumer specialist ProCook noted that it had made " strong" progress in the first half as it accelerates profitable growth to deliver its medium term objectives of 100 retail stores, £100 million revenue and 10% operating margin.