UK confectioner Thorntons today (20 April) reported an increase in third-quarter sales but said it remains cautious on the outlook for the remainder of the year.
For the 14 weeks to 17 April, group sales increased 3.1% to reach GBP60.3m (US$92.8m). Own-store sales, however, declined by 4.9% to GBP33.5m. Like-for-like sales from the Thorntons stores declined by 4.6%.
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Thorntons blamed “unusually severe weather conditions” and sales moving from its own stores to the commercial channel for the decline. The firm also revealed that Easter trading was “below plan”.
Sales of Thorntons-branded products nonetheless grew by 5.9%.
“In an economic environment where consumers remain focused on value, the board is taking a cautious view on the outlook for the remainder of the year and now expects profit before tax and exceptional items will be approximately GBP7.5m,” the firm said.
Sales in the commercial channel continued to perform “strongly”, the firm said, with sales growth of 33.9% to GBP20.8m, boosted by the launch of Melts into supermarkets and a successful Easter campaign.
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By GlobalDataFranchise sales declined by 20.6% to GBP3.1m, but Thorntons Direct made “good progress” and grew by 32.4% to GBP2.5m.
