ProCook Group PLC (LSE:PROC) shares fell 16% after the kitchenware retailer reported increased first-half losses and negative like-for-like retail sales growth in the following eight weeks.
For the half-year to October 13, total revenue increased 7.5% to £28.3 million, with underlying revenue up 4.2%, which the company said was outperforming the market by 5%.
Retail revenue increased 6.5% and e-commerce revenue by 9.4%.
ProCook made an underlying operating loss of £1.8 million, up from £1.5 million a year earlier, though its reported loss before tax remained flat at £3.2 million.
In the first eight weeks of the second half to December 8, including Black Friday and the beginnings of festive trading, total revenues were up 7.5%, with like-for-like revenue up 0.9%.
But retail LFLs were down 4%, which the company blamed on "weak footfall during the early weeks of the second half, coinciding with the Budget", but said has improved since.
The shares, which had recently recovered to above 35p from June's all-time low below 17p, fell 16.4% to 31p in early trading on Wednesday.