Cake Box sales bounce back after lockdown closures

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Cake Box sales bounce back after lockdown closures
Shares in Cake Box lifted this morning after it said it was confident the momentum would continue through the second half of its financial year.
// Cake Box like-for-like sales jump 12.1% in the 20 weeks to September 30
// Total revenues for the period came in at £8.6m, dipping slightly from £8.8m
// Cake Box’s online sales jump 81% and 6 new franchise stores opened in the half year period

Cake Box has hailed “strong momentum” as it reported higher like-for-like sales after reopening stores.

The high street business said like-for-like sales jumped 12.1 per cent in the 20 weeks to September 30 after it welcomed customers to its stores again.

Shares in the vegan cake retailer lifted this morning after it said it was confident the momentum would continue through the second half of its financial year.


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Cake Box reported £8.6 million in total revenues for the half-year to the end of September, dipping slightly from £8.8 million in the same period last year after it was impacted by six weeks of closures at the start of the latest half-year.

The chain said sales were buoyed by higher online demand, as the launch of delivery services through platforms including Uber Eats, Just Eat and Deliveroo helped online sales jump 81 per cent against the same period last year.

Cake Box also opened six new franchise stores over the past six months, taking its store estate to 139.

It stressed that it has a “very strong pipeline of new franchisees”, with deposits for 47 new sites across the country.

“This result is testament to the dedication, agility and entrepreneurial spirit of the Cake Box family, particularly our franchisees and their employees,” Cake Box chief executive Sukh Chamdal said.

“We have received a record number of new store applications, giving us confidence that the momentum in our national rollout will return to pre-Covid levels.

“Despite the wider environment, our unique proposition for customers and potential franchisees remains highly attractive and we are confident of further progress in the second half.”

Shares in the company were 6.3 per cent higher at 175.4p in early trading today.

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