Partner Article

Thorntons "confident" despite continuing declines

Struggling high street chocolatier, Thorntons, said it remains confident in its strategy of rebalancing the business and brand revitalisation.

Total sales across the brand’s own stores declined 7% to £46m due to the closure of 36 outlets, and franchise sales declined £2m, following the administration of a major franchisee.

Jonathan Hart, Thorntons’ Chief Executive, commented: “Consumer spending and the wider economy remain weak and difficult to predict. We are therefore cautious in our outlook for the peak trading season ahead and have set our plans accordingly. We continue to have confidence in our strategy to rebalance our business, revitalise our brand and restore profitability and are making good progress in its implemention.

“In our retail business our plans are stronger than last year, with innovative new products and dynamic promotions, and in the Commercial channel we remain encouraged by our strong order book. We continue to focus on improving profitability and are pleased that the margin improvements seen earlier in 2012 are continuing to flow through.”

This was posted in Bdaily's Members' News section by Tom Keighley .