Thorntons slows sales decline
Chocolate retailer Thorntons boosted hopes for a trading turnaround today after reporting an improvement in the rate of its sales decline.
The Derbyshire-based firm said total sales fell to £176.6m (€256.6m) for the year to June 24, compared with £187m (€271.7m) in the previous 12 months.
However, in a trading statement, it also pointed to a revival in like-for-like sales, which were down 1.8% in the past six months compared with 4.8% in the first half of the year, helped by a strong Easter season.
There was also good news at the company’s online Thorntons Direct arm, where sales were up by 6.4% to £5.5m (€8m).
Thorntons said retail sales at its 367 shops were down 5% to £127m (€184.5m) from £134.1m (€194.8m) last year, following the net closure of two shops.
There was a 4% fall in sales at its franchised stores to £12.9m (€18.7m), while commercial sales also took a hit, decreasing by 10.7% on last year to £31.2m (€45.3m).
Last month former Budgens chief executive John von Spreckelsen was taken on as chairman at the confectioner in a bid to revive its fortunes.
