Cooks Coffee sales rise 15.8% across UK&I in 2023
The company has attributed its performance to its prioritisation of boosting sales within existing locations and to pursuing a store expansion initiative
Cooks Coffee has experienced a 15.8% rise in sales to $53.8m (£26.9m) across the UK and Ireland for the year ended 31 December 2023.
The news comes as, within the UK, store sales rose by 18.6% to reach $35m (£17.5m) compared with the same period last year, while in Ireland store sales rose by 11% to $18.8m (£9.4m).
The company has attributed its performance so far in the financial year to its prioritisation of boosting sales within existing locations and to pursuing a store expansion initiative.
By the end of 2023, Cooks Coffee had added nine new stores in the UK and Ireland, totalling 71 group sites compared with 62 as of 1 January 2023.
During the year, Cooks Coffee opened 12 stores in the UK and closed five, whilst in Ireland three stores opened and one closed. Like-for-like sales in the UK for 2023 were up 6% and in Ireland up 6.8%, whilst the sales from the new stores opened during 2023 accounted for 12.3% of total sales in the UK and 13.4% in Ireland.
Throughout the year, momentum steadily increased, reaching a new record in December 2023 as Esquires achieved weekly store sales of over $1.2m (£600k) for the first time across the UK and Ireland in the week prior to Christmas.
Keith Jackson, executive chairman of Cooks Coffee, said: “We are delighted with the robust sales growth within our current coffee store locations as we simultaneously progress our expansion programme, opening new stores.
“December has been a record-breaking month for us and this success reflects the dedication of our extended team of shareholders, directors, franchisees, regional developers and company staff and the overwhelming support from our valued customers. We look forward to updating the market further in due course.”
