Thu 8th Dec 2016 - Wagamama reports UK like-for-likes up 9.1% in Q2 Wagamama reports UK like-for-likes up 9.1% in Q2: Wagamama has reported UK like-for-like sales rose 9.1% in the 12 weeks to 6 November, the second quarter of its fiscal year 2017. UK sales were up 14.4% to £59.6m while the company said it had now traded ahead of the competition for 133 consecutive weeks. Its UK like-for-like growth was 8.9% higher than the 0.2% growth of companies in the Coffer Peach Tracker and the gap is widening. Total sales for the group in the quarter were £61.7m, up 14.5% up on the comparable quarter last year. UK average weekly sales is now £41,600 compared with £37,400 in the same quarter last year. The company refurbished 13 sites in the quarter. Adjusted Ebitda was up 17.9% to £10.9m. In the US, sales were up 7.1% in the quarter to £1.5m. Its New York site opened on 16 November and the first three weeks are trading ahead of budget. The company’s development is on track with four new UK sites opened in Bankside and St Paul’s in London as well as Peterborough and Ipswich. The company has also opened new international franchises in Saudi Arabia (Jeddah), Turkey (Meydan) and New Zealand (north west). Franchise sales were up 50% to £600,000 in the quarter, compared with £400,000 the previous year. The company said it had made a strong start to quarter three sales. It added there was potential challenges from business rates, the apprenticeship levy and ongoing pressures from the National Living Wage and, as previously, it was working to mitigate these costs. Chief executive David Campbell said: “We are delighted to have seen another strong quarter across our portfolio of restaurants. The UK estate continues to significantly outperform the market and the company’s second quarter performance follows on from a strong first quarter, delivering half one like-for-like growth of 9.7%, ahead of a relatively flat (-0.2%) market. The US estate also continues to trade well, with first half like-for-like growth at 10.4%. While we had four strong UK openings, and franchise openings in three different markets, undoubtedly the highlight has been the successful opening of our first restaurant in New York City. The restaurant opened to critical acclaim and while it is early days, it is already trading within the top five restaurants within the company. The US is an important expansion market for Wagamama and we have further leases either signed, or in the process of being signed, in both New York City and Boston. As always, credit for our success goes to our almost 5,000 hardworking team members worldwide who – in the true spirit of the kaizen philosophy the company embraces – redefine good, each and every day. The strength of the company brand, both externally and internally, positions us favourably to recruit and retain the best staff. We are confident that the company continues to be well positioned for future growth both in the UK and internationally. Our successful opening in New York City marks the start of an exciting new chapter as we create an iconic global restaurant brand.”