Loungers sales rise 7.7% in H1

Loungers has reported that like-for-like sales rose 7.7% year-on-year in the half year ended 1 October, also marking 24% ahead of pre-pandemic levels. 

The restaurant operator’s adjusted EBITDA also increased 28.2% to £17.3m during the period. 

Due to its “consistently” strong trading, the group is on track to open 34 sites in the UK this year and create 1,000 jobs. 

The group aims to be “the number one choice” for careers in hospitality, having built a reputation for being a starting point for young people entering the industry with approximately a third of its 8,400-person team being 21 or younger. 

Nick Collins, CEO of Loungers, said: “We are proud of the positive impact that our Lounges have on the local community.  Each new Lounge creates 30 new jobs on average, and each opening typically represents an investment of up to £1m into the local high street. 

“Our Lounges are extremely versatile and work as well in purpose-built, mixed-use retail and leisure parks as they do in historic buildings on high streets. This gives us a huge amount of choice when assessing new sites, as we’re not tied to any one kind of environment or type of location.”   

Of the 59 sites that Loungers has opened in the last two years, 39% were former retail sites, 20% were in brand new developments, 15% were former restaurants, and 12% were former banks.