Loungers sees sales grow by a quarter

Loungers sees sales grow by a quarter

Loungers, the operator of 168 eateries across England and Wales that trade under Lounge and Cosy Club brands, has announced a like-for-like sales growth of more than 25% over the 13 weeks to 4 October.

The trading update, covering the 24 weeks ending 4 October reveals the group has maintained its significant outperformance of the market since the industry reopened on 4 July.

During this period, the group has two new sites, comprising Ponto Lounge in Hull and Cosy Club in Brindleyplace in Birmingham, taking the portfolio to 167 sites as at 4 October 2020.

Sentado Lounge opened in Sittingbourne earlier this week, and while the group ‘remains cautious’ with regard to the pace of roll-out it expects to open a further three sites in the current financial year.

“I am delighted with our continued excellent trading which reflects the resilience of our brands and fantastic performance of our team working in very difficult circumstances,” comments Nick Collins, CEO.

“Loungers, and the sector more broadly, have gone to considerable efforts to ensure the safety of our teams and customers.

“We anticipate further interruptions to trade in the coming weeks and months, but take confidence from our continued market outperformance.

“We remain well-positioned to accelerate our growth and to continue to lead the market once Covid-19 is behind us.”