Loungers has revealed that like-for-like sales for the first 26 weeks of their financial year were up 6%, and that year-on-year sales for the period were up 58.9% to £15.2m as they continue to expand their portfolio of sites.
Truro is twelfth opening of 2013
Loungers will open their 12th site of 2013 (& their 41st site overall) next week in Truro. The Truro site is the group’s first site in Cornwall and occupies a 4,800sq ft former building society on Princes Street. Loungers have invested £525k in converting the 2-storey property to provide 130-covers internally and a further 60-covers to a first floor roof terrace.
The Truro opening sees Loungers achieve their target of opening 12 sites in 2013 and the business is on track to have doubled in size in less than 2 years.
15 new sites for 2014
It is understood that the group plans to open up to 15 sites next year and has deals agreed on the majority of these sites already. Anticipated 2014 openings include Glossop, two in Brighton, Torquay, Shirley (Birmingham), Letchworth, Chippenham, Witney, & Kettering, all of which will be opened as ‘Lounge’ cafe/bars.
In addition it is understood the group is negotiating on two further sites in the Manchester, area and is looking to agree deals on Cosy Club sites in Manchester, Bristol and Southampton.
Commenting on the group’s continued growth, Alex Reilley, Loungers MD, said,
“Truro is a great city and we’re extremely excited to be opening such a cracking site there. This year has seen us successfully deal with another step change in growth. and 2013 has proved to be another exceptional year of openings for us.
“We’re looking to up the ante again in 2014 with 15 openings targeted, and we remain very much on track to hit 90 sites by 2017.”