THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Thorntons like-for-like sales fall 10.6%

High street chocolate retailer Thorntons has announced that its fourth quarter trading was in line with expectations.

CITY & CORPORATE

Thorntons like-for-like sales fall 10.6%

High street chocolate retailer Thorntons has announced that its fourth quarter trading was in line with expectations.

Total sales for the eight weeks to 25 June were down £1.9 million to £20.6 million. Commercial sales grew 0.4% to £5.9 million, with more than 95% of these sales being Thorntons branded products.
 
Own store sales fell 11.9% to £12.8 million with a like-for-like sales decline of 10.6%.

Thorntons said franchise sales decreased 19% to £1.1 million during the period. However, Thornton Direct sales increased 10.7% to £0.8 million with growth in online consumer sales.

The group, which issued a profit warning in May, said it expects profit before tax, impairment and onerous lease charges for the full year to be in line with expectations.

It is also considering a provision of around £3.5 million in the financial results for the year to 25 June 2011 in relation to under-performing stores identified for closure as a result of the strategic review.

Jonathan Hart, Thorntons' Chief Executive, said of the results: "This eight week period represents less than 10% of our annual sales. As highlighted at the strategic review at the end of June, trading during this period has continued to be challenging, particularly in our Own Stores and Franchises. Whilst Commercial sales have only grown slightly they increased by an impressive 25.9% over the full year. We are encouraged by our forward orders for Christmas 2011. Thorntons Direct had a good Fathers Day trading period which contributed to the 10.7% increase in sales."
 
He added: "We see the weakness in High Street footfall and spending continuing in the new financial year. As a business we are now focusing on the implementation of our transformation plan. Thorntons is a strong brand with excellent potential and I am confident that this strategy of rebalancing the business across all channels will deliver results."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019