Sales still melting at Thorntons
Thursday 14 July 2011
Sales at the chocolatier Thorntons melted by nearly 11 per cent over the past eight weeks, laying bare the scale of the turnaround facing its new chief executive and the tough trading conditions on the high street.
Thorntons tried to sweeten its statement by pointing to double-digit online sales growth and saying it was "encouraged" by forward orders for Christmas at its commercial division, which sells chocolate to supermarkets.
But like-for-like sales slumped by 10.6 per cent at its company-owned stores for the eight weeks to 26 June, though this period accounts for less than 10 per cent of annual revenues. Total sales at Thorntons – which warned on profits in May – fell by £1.9m to £20.6m.
Jonathan Hart – who became Thorntons' chief executive in January after leaving Caffe Nero – last month unveiled plans to close a "minimum" of 120 stores and explore the opportunity to shut up to 60 more over three years from its current estate of 364 outlets, in an attempt to revive its fortunes.
- 1 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 2 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 3 Lego breaks out of the toy box and heads for the gallery
- 4 Julian Assange and Edward Snowden join piracy mogul Kim Dotcom’s political campaign in New Zealand
- 5 Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
Jihadi John': MI5 may have identified Isis militant who killed David Haines but options limited
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: Police will be on high alert on Friday whatever the result
David Haines beheading: David Cameron says Britain will hunt down Isis 'monsters' shown in video murdering aid worker
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
Salmond accused of laughing off national debt with ‘what are they going to do: invade?’ joke
iJobs Money & Business
£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
£35000 - £38000 per annum + Benefits: Ashdown Group: Training Coordinator / Pl...
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£400 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...