ProCook Group, a renowned kitchenware brand, has experienced a decline in second-quarter revenue due to weakened business in September and early October. This drop is primarily attributed to customers seeking out better value and promotional offers, despite a successful summer sale performance in July and August.
For the quarter ending on October 15th, the company reported a 1.8% decrease in revenue, amounting to £15.7 million ($19.1 million). However, when considering the continuing business basis, which excludes the impact of the Amazon EU exit last year, revenue actually increased by 0.8%.
The overall revenue for the first half of the year saw a 3.8% decline, amounting to £26.3 million. Excluding the Amazon EU exit, the decrease was only 1.2%, according to the company.
CEO Lee Tappenden acknowledged the challenging trading conditions and uncertain consumer and macroeconomic environment that ProCook operates in. Despite these circumstances, Tappenden expressed focus on providing even greater value to customers during the crucial peak trading period and beyond.
ProCook typically generates around 60% of its sales within the second half of the year. Fortunately, the company is well-prepared for this peak trading period.