Market Update - UK
Cooks Global Foods’ (“CGF”) UK based Esquires Coffee stores network (“ECUK”) has outperformed the market in the UK in 2021. Independent research recently completed by Allegra World Coffee Portal Research and Analysis1 has reported that the UK branded coffee shop market has returned to 87% of the pre-Covid 2019 sales levels in 2021. The 2021 sales of the ECUK network that had 48 stores operating as at the end of December 2021 were 99.5% of the 2019 net sales.
CGF’s Triple Two Coffee delivered store sales in the 6 months July – December 2021 that were 246% of 2020 for the same period. Triple Two was acquired on 19th June 2020 and therefore CGF does not have comparative store sales figures for the January to June period 2020.