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Loungers maintains 'significant outperformance' since reopening

By Iain Gilbert

Date: Friday 16 Oct 2020

Loungers maintains 'significant outperformance' since reopening

(Sharecast News) - Bar and restaurant operator Loungers has maintained its "significant outperformance" of the market following reopening on 4 July.
Loungers said on Friday that in the 13 weeks ended 4 October, it had delivered like-for-like sales growth of 25.1%.

Whilst the AIM-listed group acknowledged that the recent resurgence in new Covid-19 cases increased the likelihood of additional trading restrictions, it remained "very encouraged" by the strength of its trading post-reopening.

Chief executive Nick Collins said: "Loungers, and the sector more broadly, have gone to considerable efforts to ensure the safety of our teams and customers.

"We anticipate further interruptions to trade in the coming weeks and months, but take confidence from our continued market out-performance. We remain well-positioned to accelerate our growth and to continue to lead the market once Covid-19 is behind us."

As of 1355 BST, Loungers shares were up 7.86% at 151.0p.

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