Wagamama’s refurbished T5 restaurant keeps on breaking records as Q1 sales hit £76m

Wagamama

Wagamama has got its new financial year off to a bang by reporting a healthy 17% rise in first quarter sales to £76.4m.

The growth reflects the continued expansion of its restaurants in the UK, which still accounts for more than 95% of its business.

Wagamama opened stores in Bromley and Staines in the 16 weeks to August 24, while a third opened in Bankside just after the quarter ended. It now operates 122 stores in the UK, and 158 overall.

UK like-for-like sales growth stood at 10% as the chain revealed that it achieved adjusted EBITDA of £12.1m, a 19% improvement on last year.

Five refurbishments were completed or got underway in the first quarter, bringing Kaizen design and new covers where possible to the existing estate.

Its site at Heathrow’s Terminal 5 delivered three record weeks in a row since its refurbishment, the company revealed.

Outside of the UK, Wagamama said that a new restaurant in New York City is currently under construction and on track to open in October.

New franchise agreements are in place with “quality” franchisees in France, Spain and Italy, as it added that its international pipeline is growing.

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