Trading Statement
October 06 2010 - 2:00AM
UK Regulatory
TIDMTHT
RNS Number : 9121T
Thorntons PLC
06 October 2010
THORNTONS PLC
("Thorntons" or "the Company")
FIRST QUARTER TRADING UPDATE
AND INTERIM MANAGEMENT STATEMENT
Thorntons PLC today reported its first quarter trading update for the 14 weeks
up to and including 2 October 2010.
Highlights:
· Total sales grew by 7.4% to GBP50.3 million.
· Sales of Thorntons Branded product increased by 9.0% to GBP49.9
million.
· Commercial sales grew by 29.3% to GBP20.2 million with sales of Thorntons
branded product growing by 35.8% to GBP19.8 million.
· Own store sales declined by 4.3% to GBP26.0 million with like for like
sales decline of 4.1%.
· Franchise sales declined by 4.8% to GBP2.8 million as they were adversely
affected by the timing of initial Christmas stock deliveries, which occurred in
the first quarter last year and which will take place at the start of the second
quarter this financial year.
· Thorntons Direct sales increased by 18.6% to GBP1.3 million with growth in
both consumer and corporate sales.
John von Spreckelsen, Thorntons' Executive Chairman, commented:
"We are pleased to report satisfactory trading in the first quarter,
traditionally a quieter period for the Company, with overall sales growth of
7.4% and sales of Thorntons' branded products up 9.0%. Performance in the
Commercial and Thorntons Direct channels were particularly pleasing. The
Franchise channel was negatively affected by the timing of Christmas deliveries;
however underlying trading for the period was encouraging. Our challenge and key
focus area for the Board remains the performance in Own Stores where sales
declined in line with management expectations. We are continuing to implement a
number of new initiatives to drive sales and have recently launched a strong
Christmas seasonal range."
For further information please contact:
Cardew Group
T: 020 7930 0777
Emma Crawshaw
+----------------+----------+----------+
| Sales growth % | Q1 | Q1 |
| | 14 | 14 |
| | weeks | weeks |
| | to | to |
| |02-10-10 |03-10-09 |
| | | |
+----------------+----------+----------+
| Own Stores | -4.3% | +1.9% |
+----------------+----------+----------+
| Franchise | -4.8% | -15.2% |
| Stores | | |
+----------------+----------+----------+
| Thorntons | +18.6% | +2.4% |
| Direct | | |
+----------------+----------+----------+
| Total Retail | -3.5% | +0.0% |
+----------------+----------+----------+
| Commercial | +35.8% | +40.4% |
| Channel | | |
+----------------+----------+----------+
| Private label | -63.6% | -75.3% |
+----------------+----------+----------+
| Total | +29.3% | +7.2% |
| Commercial | | |
+----------------+----------+----------+
| Total Company | +7.4% | +2.3% |
+----------------+----------+----------+
| Note:- | | |
+----------------+----------+----------+
| Total Company | +9.0% | +10.1% |
| excl Private | | |
| label | | |
+----------------+----------+----------+
+----------------+----------+----------+
| Like for like | Q1 | Q1 |
| sales growth % | 14 | 14 |
| | weeks | weeks |
| | to | to |
| |02-10-10 |03-10-09 |
| | | |
+----------------+----------+----------+
| Own stores | -4.1% | +1.3% |
+----------------+----------+----------+
+----------------+----------+----------+
| Sales GBPm | Q1 | Q1 |
| | 14 | 14 |
| | weeks | weeks |
| | to | to |
| |02-10-10 |03-10-09 |
| | | |
+----------------+----------+----------+
| Own Stores | 26.0 | 27.1 |
+----------------+----------+----------+
| Franchise | 2.8 | 2.9 |
| Stores | | |
+----------------+----------+----------+
| Thorntons | 1.3 | 1.1 |
| Direct | | |
+----------------+----------+----------+
| Total Retail | 30.1 | 31.1 |
+----------------+----------+----------+
| Commercial | 19.8 | 14.6 |
| Channel | | |
+----------------+----------+----------+
| Private label | 0.4 | 1.1 |
+----------------+----------+----------+
| Total | 20.2 | 15.7 |
| Commercial | | |
+----------------+----------+----------+
| Total Company | 50.3 | 46.8 |
+----------------+----------+----------+
| Note:- | | |
+----------------+----------+----------+
| Total Company | 49.9 | 45.7 |
| excl Private | | |
| label | | |
+----------------+----------+----------+
+-----------+------------+----------+----------+----------+----------+
| Portfolio | Stores | New | Resites |Closures | Stores |
| | as | stores | | | as |
| | at26-06-10 | | | | at |
| | | | | |02-10-10 |
+-----------+------------+----------+----------+----------+----------+
| Own | 377 | | 1 | -4 | 374 |
| stores | | | | | |
+-----------+------------+----------+----------+----------+----------+
|Franchise | 222 | 8 | | -5 | 225 |
| stores | | | | | |
+-----------+------------+----------+----------+----------+----------+
| Total | 599 | 8 | 1 | -9 | 599 |
+-----------+------------+----------+----------+----------+----------+
- END -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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