ProCook has reported its Q3 trading results for the 12 weeks ended 7 January, 2024.
Total revenue for Q3 was £23.1m, an increase of 3% year on year. Total like for like revenue was £31.7m, down slightly by 0.4% year on year, building on the improving trend in previous quarters (Q1: -7.9%; Q2: -1.8%).
Ecommerce like for like revenue was down 5.1% in Q3, reflecting disruptions during the first six weeks of the period, following the launch of the new website.
Meanwhile retail sales grew 9.5% in Q3, benefitting from two new stores, and like for like retail sales also grew by 3.1%.
Trading for the peak period was in line with the board’s expectations, but ProCook warns that going forward the macro environment remains challenging for consumers, impacting big ticket and discretionary purchases.
Lee Tappenden, ceo commented: “I am pleased that trading metrics are continuing to improve despite the difficult consumer backdrop, and that we have delivered a robust Black Friday and Christmas trading period, outperforming our market.
“Whilst we remain cautious about the timing and pace of market recovery, we are confident in our proposition and energised by the opportunities available to us to build an even stronger customer-focused business as we continue to make good strategic progress which will allow us to accelerate profitable growth as trading conditions improve.”
