Record Year – 18% Stores Sales Growth Expected To Continue

Cooks Coffee Company is reporting total franchisee store sales for it’s Esquires cafes in UK as double the industry average growth of 9% according to research from Allegra in January 2024.

Combined UK & Ireland are up 18% at $58.2m (FY23 NZ $49.5m) with UK store sales up 21% at NZ $38.3m (FY23 NZ$31.6m). Cooks revenue from trading activities at $4.7m for the year was 20% up on FY23.

The focus is now achieving 300 plus Esquires stores over the next 10 years in the UK and Ireland and looking to new growth in Scotland &Northern Ireland.

Suburbs, new housing developments and market towns are identified as the future growth areas for the Esquires branded stores shielding them from the permanent changes in consumer behaviors, post Covid, such as the working from home lifestyle choices.

Growth in UK has been driven through strong performances by the Regional Developers in the Southeast, London, East England & East Midlands. The appointment of two new Regional Developers during FY24 for the North of England and the Southwest and South Wales will continue accelerate the growth in those regions.

“Because of our business model costs are contained and growth does not require substantial further investment in our infrastructure or team”, said Executive Chairman Keith Jackson. He added that the growth projected would be achieved in a capital light manner due to the franchise model meaning that the new stores were established by owner operator franchisees.

The appointment of Aiden Keegan as the CEO of Cooks Coffee Company is an important milestone for the company. He has been with Esquires for 20 years, more recently as Managing Director of Esquires UK and successfully steering the company through growth and Covid. Prior to that he was 14 years with the Esquires buisness in Ireland. He has a deep understanding of the business, its people and key success factors.

Keith Jackson explained: “We have faced substantial challenges over the last four years but the franchisee structure ensures we are strong and resilient as all our stores are owned and driven by committed individuals and teams who are invested in creating successful and profitable businesses in their communities.”

“We are now well positioned to build on the impressive FY24 growth.”

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