ProCook posts 1.8% drop in revenue
Kitchenware retailer ProCook has posted a 1.8% decline in second-quarter revenue to £15.7 million following a “challenging” trading period.
This included a 17% fall in ecommerce revenue and an 8.3% uplift in shop sales as its customers continued to move back to shopping in its physical stores following the pandemic.
In the 16 weeks to 15 October, like-for-like revenue was also down by 1.8%, although this was an improvement on the first quarter when like-for-likes fell by 7.9%.
The second quarter results reflected a strong summer sale performance during July and August and softer trading in September and early October due to lower footfall and online traffic.
The results mean that the retailer’s first half revenue fell by 3.8% year-on-year to £26.3 million.
ProCook said it made strong progress with its strategic priorities in the first half of the year with the launch of phase one of its new electricals range, the transition to a new website, and this week’s launch of new brand campaigns featuring celebrity chef Matt Tebbutt..
Lee Tappenden, ProCook’s recently appointed chief executive said: “My first few weeks with ProCook have reinforced my appreciation of our unique customer proposition, product quality and service excellence across our business. I am highly excited by the many opportunities we have to further develop our proposition and business in the next chapter ahead of us.
“Trading conditions remain challenging, and we continue to operate in an uncertain consumer and macroeconomic environment. We are focussed on delivering even greater value for our customers throughout the important peak trading period and beyond.”
