Thorntons warns prices could rise
Thursday 07 October 2010
Thorntons dealt chocolate-lovers a blow yesterday as it became the latest confectioner to warn soaring cocoa costs could soon lead to price rises.
Cocoa has surged 25 per cent in recent months to 38-year highs due to poor harvests and increasing global demand. Major confectioners such as Cadbury and Nestlé have recently raised prices by up to 7 per cent as a result.
Mark Robson, the finance director and interim chief executive since Mike Davies retired last month, said Thorntons had not yet raised prices. "We do try to hedge this as far as possible and to buy forward in the market to mitigate against rising input costs," he said. "But if prices continue to go up and up, it could come to a point where we do pass it on."
Thorntons also posted a 7.4 per cent rise in sales in its first quarter to 2 October, as gains in its commercial and online divisions offset falls in like-for-like sales on the high street.
- 1 Russell Brand says he will 'probably' give up acting to focus on his revolution
- 2 Watch what happened when food critics were unknowingly served McDonald's
- 3 David Beckham's Haig Club whisky is exactly what’s wrong with the Highlands
- 4 Queen's first tweet: Reply telling Her Majesty to 'f*** off' broadcast on BBC News
- 5 #AskNigelFarage: Twitter starts hilarious Q&A for Ukip leader
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Tony Blair 'says Ed Miliband will lose 2015 general election'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Putin: The US is to blame for almost all the world's major conflicts
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
iJobs Money & Business
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...
£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...