Hotel Chocolat reports increase in revenue and costs
Hotel Chocolat grew its revenues by a respective 11% and 14% in the 13 weeks and 26 weeks to 29 December.
During the 26-week period, the retailer opened nine new UK stores to take the total to 125 locations. It also launched two new stores in the US and three new joint-venture shops in Japan.
Angus Thirlwell, co-founder and chief executive of Hotel Chocolat, said: “The USA and our joint venture in Japan are both delivering an encouraging performance, growing to four and five locations respectively by the end of period. While much of 2019 was about getting started in these large new markets, 2020 will see us accelerate our supply-chain transformation. This focus will rebalance us from being a UK-based company operating from owned channels, to one more suitable for multichannel multi-territory international supply.”
Hotel Chocolat said trading for the 13-week period and since December has been in line with expectations. However, the retailer’s costs to deliver growth have been a little higher due to “inefficiencies” in the supply chain.
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