Confectioner Thorntons has announced in a trading update that it expects full-year earnings to be below last the levels achieved in the last financial year.
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.
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