Sponsored by
Thorntons seeing strategy succeed after 'steady' Easter
Thorntons yesterday said sales had been "steady" after the chocolate retailer faced up to testing conditions and a shorter Easter selling period.
The 8.5 per cent improvement to 52.4m in the three months to last Saturday represented a sixth consecutive quarter of growth and came after the chain launched new products and targeted customer service standards.
Own-store sales were 5.1 per cent higher at 33.8m, with like-for-like sales 0.5 per cent stronger. This was down on the 1.2 per cent growth seen in the previous quarter, although Thorntons said it was a pleasing performance given the timing of Easter shortened its key trading period.
Thorntons chief executive Mike Davies said the business had maintained a "steady course", adding that he was confident the chain would deliver on City expectations for the financial year.
He added: "Our strategy has succeeded in delivering product innovation and improvements to our stores and to customer service."
However, Mr Davies warned the chain was also seeing cost hikes "marginally ahead" of the company's expectations.
Derbyshire-based Thorntons has 379 stores, with another 252 operating on a franchise basis.
Recent initiatives have included the re-launch of its continental range and a children's selection with no artificial colours or added preservatives. It has also reported improvements in staff turnover and morale following the roll-out of its 'You are the Difference' programme.
Commercial sales, such as through supermarkets, rose 14.5 per cent in the quarter, while Thorntons Direct reported a gain of 27.7 per cent to 2.2m.
Despite the sales progress, Thorntons shares fell 7 per cent as investors reacted to the guidance about rising costs.
Email to a friend
Print this page- Three-inch blanket of snow heading our way today
- Alan Shearer in list of favourites for Leeds and England jobs: Latest odds
- Barnsley’s Keith Hill invokes Fawlty Towers over link with Leeds job
- McCormack feels United search can be narrowed down
- Redfearn throws down gauntlet as queue builds at Elland Road
- Rival chips in with £500,000 to restore the original Harry Ramsden’s
- Visit from Princess as Serbian culture celebrated
- SportsTalk: Leeds United’s manager search, Super League and Calcutta Cup
- Libraries aren’t like supermarkets, they are magical places where dreams begin
- Strategic review will lead to job losses at Yorkshire Bank
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Yorkshire
Saturday 11 February 2012
Today
Cloudy
Temperature: -1 C to 1 C
Wind Speed: 9 mph
Wind direction: South east
Tomorrow
Light rain
Temperature: 1 C to 6 C
Wind Speed: 8 mph
Wind direction: North west
