Cooks Coffee Reports Significant Sales Growth as Turnaround Efforts Continue

Highlights:

• Sales Growth: Esquires stores report 23.1% sales growth to $28.5 million.
• UK Market Success: UK sales soar 32.4%, reaching $19.7 million.
• Investor Confidence: Shares rise by 11% following the positive update.

Cooks Coffee Company continues to expand and drive growth in core business.

Cooks Coffee Company (NZX: CCC) has posted promising results in a recent trading update, showing that its turnaround plan is gaining momentum. For the 22 weeks ending in September, the company reported a 23.1% increase in sales at its Esquires coffee chain, which operates in the UK and Ireland. This rise brought total sales to $28.5 million, a notable achievement for the business.

Growth in Key Markets

In its primary market of the UK, Esquires saw a remarkable 32.4% rise in sales, reaching $19.7 million. In Ireland, the company also posted a 6.4% increase in sales, totaling $8.8 million. Cooks Coffee plans to build on this momentum by opening more stores and expanding the footprint of its core business.

Share Price Surge

Following the update, Cooks Coffee shares jumped by 11%, reflecting increased investor confidence. Executive Chair Keith Jackson attributed the success to a growing preference for coffee in the British Isles, further strengthening the company’s position in the market.

With its ongoing focus on growth and expanding its store network, Cooks Coffee aims to continue its upward trajectory and establish itself as a leading player in the coffee market.

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