Shares in Thorntons fell nearly 15 per cent this week after a weaker than expected Valentine’s Day and Mother’s Day dragged down its third quarter sales.
Transforming Thorntons: positive results across all core channels for high street chocolatier’s half year
Back in 2011, you’d have been forgiven for thinking Thornton’s days were numbered. As the economic environment for retailers grew more cut-throat by the day, the high street chocolatier couldn’t seem to catch a break.
High street confectionary retailer Thorntons has seen sales grow 6.3 per cent during its Q2 to £93.1 million, which also includes the Christmas period. In what has been described as “a good Christmas performance”, Thorntons’ fast-moving consumer goods (FMCG) sales grew by 17.1 per cent to £47 million, while commercial sales in the UK went up by 21.1 per cent.
In a bold attempt to avert children and parents from the lure of sugary snacks at supermarket checkouts, Lidl has decided to remove all sweets, chocolate bars and crisps from its 600 checkouts across the UK. The move came about following a survey about the “pester power” children hold over their parents at supermarket checkouts.
Revenues at the UK chocolate company were up 1.8 per cent to £221.1 million for the full year, as Thorntons managed to reduce its debt and improve its profit and sales. After a rocky few years for the group, Thorntons’ full year results for the 52 weeks to 29 June suggest its turnaround is well underway.
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