THE RETAIL BULLETIN - The home of retail news
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 sees improvement in Q4 sales

Struggling chocolate retailer Thorntons saw a 7.8% rise in total sales in its fourth quarter helped by the launch of its new Best of British range this summer.

GENERAL MERCHANDISE

Thorntons sees improvement in Q4 sales

Struggling chocolate retailer Thorntons saw a 7.8% rise in total sales in its fourth quarter helped by the launch of its new Best of British range this summer.

In the nine weeks to end June, total sales increased by £1.8 million to £24.7 million. While like-for-like sales achieved a small increase of 0.7%, overall sales in the retailer’s stores declined by £0.7 million to £13.7 million as a result of the 36 planned store closures during the year.

Commercial sales grew by £2.9 million to £9.3 million, boosted by introduction of the Best of British range and differences in the timing of deliveries to commercial customers.

Franchise sales declined to £0.9 million following the administration of Clinton Cards chain where Thorntons had franchises in 46 stores. Online sales at Thorntons Direct were broadly flat at £0.8 million.
 
The retailer said it remained cautious about the outlook for the coming year, adding that it expects  profit before tax, impairment and onerous lease charges to be in line with expectations.
 
Jonathan Hart, Thorntons' chief executive, said: "Although we are encouraged by this performance, this nine week period contributes less than 12% to our annual sales and we continue to remain cautious about the outlook for the coming year. Trading initiatives in our Own Stores, implemented since our strategic review, combined with new product launches have led to some improvement in underlying sales. Within the Commercial channel sales have been supported by the incremental benefit of this summer's 'Best of British'range and timing of deliveries to our customers.
 
"We remain committed to our strategy of rebalancing our business, revitalising our brand and restoring profitability and I am pleased to see that the actions we have taken are starting to deliver improvements in a difficult trading environment."

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

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
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
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process