Loungers celebrates LFL 6.9% sales rise & 25 openings

Loungers, the operator of 148 cafe-bar- restaurants across England and Wales, which trade under the Lounge and Cosy Club brands, has reported on trading for the 52 weeks ended 21 April 2019.

Both brands have traded well throughout the year and since the year end, with Loungers' relaxed home-from-home customer proposition - offering great food and drink, all day, to an increasingly broad demographic - continuing to resonate with customers.

Total revenue for the year was £153m, representing total revenue growth of 26.4% over the prior year (2018: £121.1m), and like-for-like sales growth of 6.9%.

Over the course of the year, the group opened 25 new sites, comprising 22 Lounges and three Cosy Clubs, taking the portfolio to 146 sites as at 21 April 2019.

Post the year end, Loungers has opened two new sites, Panero Lounge in Southsea and Falco Lounge in Barnsley. The new site pipeline remains strong, reflecting the broad demographic appeal of the proposition in a diverse range of different site types and locations.

The company is on track to open 25 new sites in the current year, bringing its suburban 'third space' lifestyle culture and hospitality to many new locations and communities nationwide.

CEO Nick Collins commented, 'This has been a landmark year for Loungers, delivering continued strong like for like growth and 25 new site openings, alongside taking the Group public.

'We remain excited about the opportunities ahead in the new financial year with good momentum in both brands, some fantastic sites in the pipeline and a real energy in the business following the IPO.'