Loungers reports jump in like-for-like sales over four weeks in May and June

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Loungers reports jump in like-for-like sales over four weeks in May and June

Related tags Loungers R200 Multi-site Casual dining

Loungers has reported a 26.6% jump in like-for-like sales over the four-week period from 17 May to 13 June 2021 compared to the same period in 2019.

In a trading update the restaurant and bar group operator said it had benefitted from “significant pent-up demand” as well as the VAT reduction, making for an encouragingly strong start to trading

Loungers, which operates 173 neighbourhood venues across England and Wales under the Lounge and Cosy Club brands, opened five Lounge sites since the financial year end in 18 April 2021, in Wolverhampton, St. Ives, Stourbridge, Welwyn Garden City and Blackpool.

The group initially opened 88 of its sites for outdoors in 12 April 2021, and said that while the weather had made it challenging at times, outdoors trading ‘allowed for a phased and controlled re-opening of the estate’. With the further relaxation of restrictions on 17 May Loungers re-opened all of its sites

“I am really pleased with how the business has re-opened and our trading performance has once again demonstrated the resilience of both the Lounge and Cosy Club brands. Customers have returned with confidence and our team have performed amazingly,” said chief executive Nick Collins.

“Whilst the government’s recently announced decision to leave the remaining restrictions in place for a further four weeks is disappointing for the hospitality sector as a whole, we look forward to a return to normality on 19 July.”

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