In the three months to 2 April, 2023, Procook sales fell by 9.7% year on year to £12.6 million. On a like-for-like basis, revenue was down 9.4%.
ProCook reported that sales from retail stores were largely flat over the three-month period, but online sales fell by 21.1%.
The retailer’s full year revenue of £62.3 million was within its expected range, with a decline of 9.9% year-on-year, or 5% excluding the discontinued Amazon channels.
Full year underlying pre-tax profit will be approximately breakeven, which is in line with previous guidance.
Daniel O’Neill, chief executive and founder of ProCook, commented: “The last year has been very difficult for consumers as real disposable incomes have fallen, which is reflected in our softer sales performance against our significant growth and market outperformance last year.
“While we expect trading conditions to remain challenging and unpredictable, we continue to grow our customer base by attracting new customers to the brand and remain confident in our value-for-money, specialist offer.
“Certain inflationary cost pressures, including wages, remain high, however we are seeing some easing in other areas, and we expect to realise the benefits of our recent actions to reduce operating costs in the current financial year and beyond.”
