Confectionery manufacturer and retailer Thorntons has reported a 5% rise in sales for the 52 weeks ended 25 June 2005.
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Total company sales £187.7m (US$327m) compared with £178.7m last year. Own shop sales fell to £134.1m (£136.8m) after a net closure of 9 stores and like-for-like sales for the full year were down by 0.7%, an encouraging performance in difficult trading conditions, the company said.
Thorntons branded product sales into other retailers, increased from £10.0m in 2003/04 to £22.3m in 2004/05. Franchise sales increased by 4.2% to £13.4m with outlets up by 13 to 216. Other sales, principally Thorntons Direct and private label sales, were £17.8m compared with £19.1m last year.
“An overall increase in sales of 5% and a decline of less than 1% in like for like sales through our own shops is encouraging in a difficult trading environment,” said chairman Christopher Burnett. “From a relatively small base, the sales of Thorntons branded products, through other retailers, more than doubled to £22.3m in the year. This sales outcome means that our performance for the year should be in line with market expectations.”
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By GlobalData
