Wagamama continues to see sales climb

By James McAllister

- Last updated on GMT

Wagamama continues to see sales climb

Related tags: Wagamama, The restaurant group, Sales growth, Restaurant

Wagamama’s saw turnover increase 11% to £92.6m in the 13 weeks to 29 September 2019, up from £83.4m in the same period last year.

The Restaurant Group-owned chain says the rise has been driven by like-for-like sales growth and the continued expansion of the Wagamama portfolio, which over the quarter included two new openings and four restaurant conversions.

Like-for-like sales grew by 6.3%, with Wagamama adding that it has outperformed the UK market by 5.1% and consistently traded ahead of the competition for more than five years.

Adjusted EBITDA grew by 27.2% in Q2 2019 to £16.7m, from £13.2m in Q2 2018/19.

“Great businesses are built from dedicated people, a commitment to always be on the side of their customers, and a galvanising sense of purpose,” says Wagamama CEO Emma Woods.

“Wagamama has always followed this model, and I am thrilled to say has delivered another quarter of strong outperformance versus the market with a number of record restaurant sales weeks.”

TRG is set to convert a further two of its existing sites to the Wagamama brand by the end of the year.

It will also launch food-to-go spin-off concept Mamago on London’s Fenchurch Street this week.

“We look forward to 2020,” adds Woods.

“And whilst we don’t expect to be immune to the various headwinds facing our industry, we will stay true to our positive culture and growth mindset.”

Related topics: Business

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