Sales rise for restaurant group
By Sarah Wood | 14th October 2022
Loungers, the restaurant group which has a number of branches in the county, has reported a 17 per cent rise in sales.
The group, which owns Rosado Lounge in Tewkesbury, Portivo Lounge in Gloucester, Curio Lounge in Stroud, Toro Lounge in Cirencester and Cosy Club in Cheltenham, saw the like-for-like sales increase in the 24 weeks to October 6.
Since the start of the financial year, the group has opened 11 new sites - eight Lounges and three Cosy Clubs, taking it to 206 branches. It expects to open a further 19 sites in the current financial year.
Nick Collins, Loungers CEO, said: "Loungers continues to thrive and I am delighted with our consistent out-performance of the market, thanks to the fantastic efforts of our teams and the hospitality they provide.
"We are particularly pleased with the strong performance of our new openings and we are on track to open 30 sites this year. As our strong sales performance demonstrates, neither uncertainty in respect of the wider UK economy nor consumer attitudes towards discretionary spending have to date impacted our sales. We are continuing to benefit from more people staying local, working from home and supporting their community and high street, which are trends that we believe are here to stay.
"We are operating in a particularly inflationary environment and we are working hard to mitigate inbound cost pressures and to maintain the value for money principles that are so important to our customers. We continue to focus on getting the right balance and take confidence from the positioning of both Lounge and Cosy Club and their market-leading track records."
The Bristol-based chain has just celebrated its 20 year anniversary.
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