Cooks Coffee UK&I store sales rise 17.6% in FY24
As of 31 March, Cooks Coffee operates from 77 locations across the UK and Ireland, having increased its portfolio by 11 coffee shops since 1 April 2023
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New Zealand-headquartered coffee chain, Cooks Coffee, has reported that group store sales rose by 17.6% to NZ $58.2m (£27.5m) for the year ended 31 March.
It comes as Cooks’ UK store sales rose 21.1% to NZ $38.3m (£18.5m) during the period, with Irish store sales rising 11.3% to NZ $19.9m (£9.43m).
As of 31 March, Cooks Coffee operates from 77 locations across the UK and Ireland, having increased its portfolio by 11 coffee shops since 1 April 2023.
According to the company, it has placed “significant” emphasis on enhancing sales within its current locations, while concurrently pursuing a store expansion initiative.
Cooks Coffee has revealed a pipeline of more than 10 new stores that are expected to open in the second quarter of 2024.
The company has added that it benefitted from positive operating cash flow, compared to the same period last year, serving as “a reaffirmation” of its positive trajectory.
Keith Jackson, chairman of Cooks Coffee Company, said: “We are delighted with the sales growth within our current coffee store locations and with the performance of the new stores.
“FY24 has witnessed the company setting new records and this success reflects the dedication of our extended team of shareholders, directors, franchisees, regional developers, and company staff, and most importantly the support from our valued customers.”
He added: “We remain committed to delivering great in-store experiences and setting new benchmarks in the months ahead through our dedicated team of local franchise store owners. We look forward to updating the market further in due course.”
