Thorntons sales grow

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The Independent Online

Thorntons, the struggling retailer, reassured investors yesterday by growing underlying sales in its fourth quarter.

The City forecasts the 101-year old chocolatier will post flat annual profits, although it will fall into the red accounting for impairment and onerous lease charges. Total revenues at Thorntons rose by 7.8 per cent to £24.7m, while its like-for-like revenues grew by 0.7 per cent over the nine weeks to 30 June.

Jonathan Hart, chief executive, said he was "encouraged" by the performance, but pointed out that this period accounted for less than 12 per cent of annual sales, and he remained "cautious" about the outlook for the coming year.