Thomas Cook (LSE:TCG)
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Thomas Cook Group PLC

22 March 2019

Thomas Cook accelerates UK efficiency programme

22 March 2019 - Thomas Cook today announces new measures to streamline its UK retail network as part of an ongoing programme to drive greater efficiencies across the business and address changing customer behaviour. More and more holidaymakers are switching online, accounting for 64% of all Thomas Cook bookings in the UK last year. Growth in online has been the fastest in all sales channels, rising by 30% in 2018 with continued strong momentum.

Today's announcement would see the closure of 21 stores across the country, reducing the UK retail estate to 566 shops, which would result in an expected 102 customer-facing roles being made redundant. A further 218 store-based roles are proposed to be removed across the network following a review of the retail workforce. A consultation process with the affected staff and their union representatives has begun.

Thomas Cook has developed its digital travel applications into some of the most trusted in the market. Customer satisfaction with the UK website, measured by net promoter score, rose 5 points in 2018. In addition, two in five Thomas Cook holidaymakers departing from the UK now use the company's app to help manage their holiday.

Chief of Tour Operating, Will Waggott, said: "Today's announcement reflects the wider challenges seen on the high street, with more and more customers choosing to book online. These measures will help us to drive greater efficiencies across Thomas Cook so that we relentlessly focus our resources in those areas that give us the greatest opportunity to make a difference to customers in our core holiday offering.

"Looking ahead, we will be working to ensure that Thomas Cook is fit for the future, putting a rigorous focus on costs in a competitive environment while giving customers more reasons to holiday with the strongest brand in travel."

The 21 stores listed for closure are included in the notes to editors.

-ENDS-

About Thomas Cook Group Plc.

Thomas Cook Group plc. is one of the world's leading leisure travel groups, with sales of GBP9.6 billion in the year ended 30 September 2018. It is supported by 21,000 employees and has 200 own-brand hotels. It operates from 16 source markets and serves over 22 million customers annually. Thomas Cook Group plc's shares are listed on the London Stock Exchange (TCG).

Contact Details:

 
                          Tej Randhawa, Thomas Cook 
 Analysts & Investors:     Group                       +44 (0) 20 7557 6487 
                          Chris Alfred, Thomas Cook 
 Media:                    Group                       +44 (0) 20 7294 7203 
 

Notes to Editors

Stores listed for closure:

 
 Gosforth, Newcastle Upon Tyne 
 West Bromwich Sandwell Centre, West Midlands 
 Llandudno, North Wales 
 Sunderland Sainsburys, Tyne & Wear 
 North Shields, Tyne & Wear 
 Peterlee, County Durham 
 Accrington, Lancashire 
 Market Harborough 23 St Marys Place, Leicestershire 
 Bury Haymarket, Lancashire 
 Stratford-upon-Avon, Warwickshire 
 Aberdeen Langstane, Aberdeen 
 Chesham, Buckinghamshire 
 Launceston, Cornwall 
 Stevenage, Hertfordshire 
 Shipley, West Yorkshire 
 Cumbernauld, North Lanarkshire 
 Guildford, Surrey 
 Glenrothes 52 Unicorn Way, Fife 
 Colchester High St, Essex 
 Kingston upon Thames, Surrey 
 Kirkintilloch Cowgate, Glasgow 
 

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END

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March 22, 2019 05:00 ET (09:00 GMT)