Trading Statement
July 17 2001 - 5:00AM
UK Regulatory
RNS Number:9881G
Thorntons PLC
17 July 2001
17 July 2001
SALES TRADING STATEMENT
53 WEEKS ENDED 30 JUNE 2001
Thorntons PLC, the speciality retailer and manufacturer of high quality
chocolate, toffee and other confectionery, is today reporting sales figures
for the 53 weeks ended 30 June 2001.
- Total company sales rose by 4.2% to #159.9m in the 53 weeks. (On a 52-week
comparable basis, sales were up +2.9%).
- Own shop sales at #133.1m were up by 3.2% (+2.0%) despite the number of own
shops reducing from 410 to 400 with the closure of non-core stores and
transfer in June of 7 motorway service station outlets to Moto (formerly
Granada) as part of a new franchise agreement designed to more rapidly
expand travel location representation.
- Like-for-like sales declined by 0.5% in the full year, a second half fall
of -1.9% despite a very strong performance Father's Day at +8.4%.
- Franchise sales at #9.3m grew by 34.8% (+33.4%) driven by the increase in
outlets from 127 last June to 163.
- Commercial sales fell by 3.6% to #15.3m (-2.5%) reflecting mainly a decline
in sales to Marks and Spencer. This is not anticipated to continue.
- E-commerce and Mail Order sales continue to advance at #2.2m, +20.9%
(+19.7%) supported by improved margins, which was the higher priority.
Peter Burdon, Chief Executive, commented: '"It was always envisaged that last
year was going to be one of stabilisation rather than dramatic recovery in
Thorntons' fortunes or like-for-like sales and so it has proved. Whilst we
would have liked to have seen higher, more profitable sales growth, we are
satisfied with the progress made in the last 12 months.
"Effort and commitment being shown on the strategic initiatives, necessary
for future growth, are very encouraging. We are on target to deliver the
anticipated benefits, though not necessarily all in the next 12 months - this
was always envisaged to be a 3-year programme. I look forward to updating you
further on progress in September."
For further information, please contact:
Peter Burdon - Chief Executive, Thorntons PLC 01773 540550
Martin Allen - Finance Director, Thorntons PLC 01773 540550
Charles Ryland - Buchanan Communications 020 7466 5000
1 Full year sales analysis
Full year Full year
sales sales
2000/2001 1999/2000
(53 weeks) (52 weeks)
#m #m
Own shop sales 133.1 128.9
Franchise 9.3 6.9
Commercial 15.3 15.8
E-commerce/mail order 2.2 1.9
_____ _____
TOTAL 159.9 153.5
2 Comparison of 2000/2001 sales with the previous year
53 weeks 52 weeks
ending ending
30 June 2001 24 June 2000
Own shop sales 3.2% 10.1%
Franchise 34.8% (7.5)%
Commercial (3.6)% (5.0)%
E-commerce/mail order 20.9% 123.7%
_____ _____
TOTAL 4.2% 8.6%
_____ _____
Own shops like-for-like: First half 0.4% (1.7)%
Second half (1.9)% 2.0%
Full year (0.5)% (0.2)%
3 Changes in the retail estate can be summarised as follows
53 weeks 52 weeks
ending ending
30 June 2001 24 June 2000
Number Number
Estate at start of year 410 390
New shops 8 31
Resites - 4
Closures (11) (15)
Transfers to Moto Franchise (7) -
_____ _____
Estate at close of year 400 410
_____ _____
Franchise shops trading 163 127
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