Loungers releases successful December trading figures

Loungers releases successful December trading figures

Loungers, the bar group that operates over 100 sites under its Lounge and Cosy Club brands, has reported strong trading over the Christmas period, with total December sales 28% higher than the previous year.

For the four weeks ending 31 December 2017, the group recorded like-for-like sales up 4.8% on 2016.

Since the beginning of Loungers’ financial year at the end of April, the group has opened 13 Lounges and two Cosy Clubs, bringing its total number of sites to 114.

Seven to eight further 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.

“Our teams have worked tirelessly to deliver another excellent Christmas,” says Nick Collins, chief executive of Loungers.

“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.”

The company also announced that finance director Chris Guy has decided to leave the business for personal reasons; the search for his successor is underway ahead of Guy’s departure in March.