Q1 sales of Thornton up by 6.4 percent
Chocolate retailer Thornton’s has posted an increase of 6.4 percent in its sales from the first quarter. Along with the rise in sales, its financial position also remained strong.
Chief Executive, Mike Davies said that they were pleased with the overall growth particularly against the backdrop of their strongest quarter of growth last year in a difficult and wider retail environment.
The company has started implementing its strategy to improve products, stores and its customer service. The group performance had reflected a 4.9 percent increase in its own store sales to 26.6 million pounds. The 97 year old group trades from 378 wholly owned stores and 252 franchises. Sales rose to 45.7 million pounds in the last fourteen weeks.
Commercial sales of other retailers rose 11 percent to 14.5 million pounds. Franchise sales were also up by 2.4 percent at 3.4 million pounds and the direct (phone and internet) sales also increased by 0.7 percent to 1.2 million pounds.
Many retailers have been struggling along with cash-strapped consumers. Consumers were faced with sharply increased food prices, mortgage and fuel costs. Shares of Thornton closed at 112 pence valuing the business at 77 million pounds.