UK confectioner Thorntons sounded a cautious note on the year ahead despite booking an increase in second-quarter sales.
In the 14 weeks to 12 January, total sales grew by 5.4% to GBP88m (US$141.1m), the group reported today (16 January).
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Own store like-for-like sales, however, declined by 1.3% as a result of the closure of three more stores in the quarter. This was the major contributor to a sales decrease of 9% to GBP40.9m in own store sales, Thorntons said.
Commercial sales grew by 26.4% to GBP34.7m, while international sales climbed 69% to GBP2.1m.
Franchise sales, however, were down by GBP1.1m to GBP3m, impacted by the collapse of Clinton Cards, one of its main franchisee partners last year.
Chief executive Jonathan Hart said the company was “pleased” with Thornton’s overall progress but said the company remained “cautious” given the “continuing challenge of the economic climate”.
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By GlobalData
