Loungers, the Lion Capital-backed operator of the Lounge and Cosy Club brands, recorded like-for-like sales up 4.8% for the four weeks to 31 December 2017, building on a strong like-for-like performance over Christmas 2016.
The group, which has opened 13 Lounges and two Cosy Clubs in the period since the end of April, to bring its estate total to 114, saw total December sales, including new openings, climb 28% higher than the previous year
A further seven to eight openings are scheduled in the final quarter including a Cosy Club in Lincoln and Lounge sites in Solihull, Ormskirk, and recently acquired sites from Wildwood and Prezzo in Abingdon and Moseley respectively.
The company said that its pipeline for new sites remained strong as it looks to open 25 new sites this year
At the same time, the group said it was sad to announce that its finance director Chris Guy has decided to leave the business for personal reasons.
It said: “Having joined the business in October 2016, he is returning to London and we are sorry to see him go. A search is underway for his successor ahead of his departure from the business in March.”
Nick Collins, chief executive of Loungers, said: “Our teams have worked tirelessly to deliver another excellent Christmas. The weather didn’t help a great deal in early December or between Christmas and the New Year, but we are pleased with the overall result. The Cosy Clubs in particular traded fantastically in what is a very important period of trade for them. The Lounges again delivered strong growth and this continues to be volume led with prices held.
“We are continuing to see some great property opportunities within the strict parameters of our rent model and our roll-out intentions remain unchanged. We are excited about what we can achieve in 2018 in terms of expanding into new locations, improving the experiences for our customers and building on the fantastic employee culture within the business.”
