Interim Management Statement
April 22 2009 - 2:00AM
UK Regulatory
TIDMTHT
RNS Number : 9441Q
Thorntons PLC
22 April 2009
FOR IMMEDIATE RELEASE
THORNTONS PLC
Interim Management Statement
Thorntons PLC today issues the following Interim Management Statement covering
its third quarter to date.
Overall sales have shown strong growth since Christmas of 11.7% to GBP58.6m. As
anticipated, sales benefited from a three week longer selling season ahead of
Easter compared to last year.
In the 14 week period ended Saturday 18th April 2009:
* Own store sales increased by 3.9% to GBP35.3 million with like for like sales
growth of 3.3%.
* Franchise sales grew by 12.3% to GBP4.0 million benefiting from additional
distribution and from the annualised effect of new store openings.
* Commercial sales continued to perform strongly with sales growth of 35.3% to
GBP17.3 million driven by continued expansion of our seasonal ranges.
* Sales in Thorntons Direct declined by 6.8% to GBP2.0 million as a result of the
continued weakness in sales to corporate customers. However, sales from the
website continued to grow steadily at 21.7%.
Mike Davies, Thorntons Chief Executive, commented:
"I am pleased to report that sales have shown strong growth since Christmas. Our
cost reduction initiatives announced at the time of the interim results combined
with our continued focus on product innovation and customer service are showing
results. The Board now expects that profit before tax and before the anticipated
pension scheme credit of GBP1.8m for the year ending June 2009 will be not less
than GBP5.0 million."
+-------------+------------+------------+------------+------------+
| Sales | Q1 | Q2 | Q3 | Year to |
| growth % | 14 weeks | 14 weeks | 14 weeks | Date |
| | to | to | to | |
| | 04-10-08 | 10-01-09 | 18-04-09 | |
+-------------+------------+------------+------------+------------+
| Own stores | +4.4% | -5.0% | +3.9% | -0.4% |
+-------------+------------+------------+------------+------------+
| Franchise | +2.4% | +4.4% | +12.3% | +6.0% |
| stores | | | | |
+-------------+------------+------------+------------+------------+
| Commercial | +11.0% | +7.3% | +35.3% | +16.9% |
| sales | | | | |
+-------------+------------+------------+------------+------------+
| Thorntons | +0.7% | +1.4% | -6.8% | -1.1% |
| Direct | | | | |
+-------------+------------+------------+------------+------------+
| Total | +6.2% | -1.6% | +11.7% | +4.2% |
+-------------+------------+------------+------------+------------+
+-------------+------------+------------+------------+------------+
| Like for | Q1 | Q2 | Q3 | Year to |
| like sales | 14 weeks | 14 weeks | 14 weeks | Date |
| growth % | to | to | to | |
| | 04-10-08 | 10-01-09 | 18-04-09 | |
+-------------+------------+------------+------------+------------+
| Own stores | +0.6% | -6.3% | +3.3% | -2.0% |
+-------------+------------+------------+------------+------------+
+-------------+------------+------------+------------+------------+
| Sales GBPm | Q1 | Q2 | Q3 | Year to |
| | 14 weeks | 14 weeks | 14 weeks | Date |
| | to | to | to | |
| | 06-10-08 | 10-01-09 | 18-04-09 | |
+-------------+------------+------------+------------+------------+
| Own stores | 26.6 | 54.1 | 35.3 | 116.0 |
+-------------+------------+------------+------------+------------+
| Franchise | 3.4 | 6.5 | 4.0 | 13.9 |
| stores | | | | |
+-------------+------------+------------+------------+------------+
| Commercial | 14.5 | 17.8 | 17.3 | 49.6 |
| sales | | | | |
+-------------+------------+------------+------------+------------+
| Thorntons | 1.2 | 4.2 | 2.0 | 7.4 |
| Direct | | | | |
+-------------+------------+------------+------------+------------+
| Total | 45.7 | 82.6 | 58.6 | 186.9 |
+-------------+------------+------------+------------+------------+
+-------------+------------+------------+------------+------------+------------+
| Portfolio | Stores as |New stores | Resites | Closures |Stores as |
| | at | | | | at |
| | 10-01-09 | | | | 18-04-09 |
+-------------+------------+------------+------------+------------+------------+
| Own stores | 381 | 0 | 0 | -1 | 380 |
+-------------+------------+------------+------------+------------+------------+
| Franchise | 261 | 3 | 0 | -10 | 254 |
| stores | | | | | |
+-------------+------------+------------+------------+------------+------------+
| Total | 642 | 3 | 0 | -11 | 634 |
+-------------+------------+------------+------------+------------+------------+
ENDS
For further information please contact:
Cardew Group T: 020 7930 0777
Nadja Vetter / Daniela Cormano
This information is provided by RNS
The company news service from the London Stock Exchange
END
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