The company behind the Esquires Coffee chain has seen its sales jump by more than 30 per cent in the UK as a raft of new store openings begins to pay off for the business.
The hospitality business, Cooks Coffee, said aggregate sales in its UK and Ireland stores hit £600,000 weekly over the past seven weeks, recorded across more than 80,000 transactions.
This level of performance had only been surpassed twice previously, including the Christmas week of last year.
The London-listed firm said that new stores opened since April 2023 accounted for 35 per cent of this total in the UK and 17 per cent in Ireland.
Five new stores were opened in the UK in Colliers Wood, Newport, Sudbury, Pinner and Ruislip during April and May this year, with one new location opening in Galway, Ireland in the same period.
Aiden Keegan, CEO of Cooks Coffee Company, said: “We are delighted with the strong start to the year.
“The performance across the UK and Ireland of the Esquires Coffee brand is a testament to our dedicated team and our strategic focus on expansion and customer experience.
“The new stores have performed very well, and we are excited about the continued opportunities for growth in both markets.”
Esquires UK and Ireland stores make a significant contribution to the company’s overall performance, representing 89 per cent of its franchised store sales in the year ending March 31 2024.
They also accounted for 98 per cent of the firm’s revenue over the same period.
In a trading update published to the London Stock Exchange today the firm said: “The expansion strategy, combined with strong like-for-like sales growth, demonstrates the company’s resilience and ability to attract and retain customers in both established and new locations, as well as Cook Coffee’s strong market position and the effectiveness of its customer engagement strategies.”