Trading Statement (6261C)
May 03 2012 - 2:00AM
UK Regulatory
TIDMTHT
RNS Number : 6261C
Thorntons PLC
03 May 2012
THORNTONS PLC
("Thorntons" or "the Company")
THIRD QUARTER TRADING UPDATE
& INTERIM MANAGEMENT STATEMENT
Thorntons PLC today reports its third quarter trading update for
the 16 weeks up to and including 28 April 2012.
Key points:
-- Total sales decreased by 2.7% to GBP62.4 million, including
the impact of the store closure programme. Excluding store
closures, sales were broadly flat.
-- In Own Stores, a further 11 stores were closed in the quarter
as we progressed our strategy. Overall sales declined by 6.1% to
GBP29.4 million with a like for like sales decline of 1.6%. This
improvement in underlying like for like decline was supported by a
successful Easter trading period.
-- Commercial sales were down by 0.9% at GBP27.4 million. A good
trading performance at Easter was offset by lower sales of all-year
round products.
-- Franchise sales increased by 12.6% to GBP3.1 million.
Franchisees demonstrated a more positive approach to restocking in
the new year which has continued through key spring trading seasons
Mothers Day and Easter. Similarly to our Own Stores, Franchisees
experienced good Easter sales growth.
-- Thorntons Direct sales increased by 2.2% to GBP2.5 million. A
successful Easter contributed to good growth in consumer and online
sales of 7.3% in the period.
Jonathan Hart, Thorntons' Chief Executive, commented:
"We saw a good performance at Easter across all our channels and
were pleased by our customers' response to our new spring seasonal
lines. However, sales of our all year-round products in the
Commercial channel were lower as the difficult consumer environment
continues.
"We continue to focus on restoring profitability and we are
seeing early signs of progress resulting in an overall satisfactory
trading performance."
For further information please contact:
Cardew Group T: 020 7930 0777
Nadja Vetter / Emma Crawshaw
Sales growth %
Q1 Q2 Q3 Year to
Date
14 weeks 14 weeks 16 weeks
to to to
01-10-11 07-01-12 28-04-12
------------------- --------- --------- --------- --------
Own Stores -10.1% -6.8% -6.1% -7.4%
------------------- --------- --------- --------- --------
Franchise Stores -6.4% -17.3% +12.6% -6.7%
------------------- --------- --------- --------- --------
Thorntons Direct -8.1% +8.0% +2.2% +3.9%
------------------- --------- --------- --------- --------
Total Retail -9.7% -6.4% -4.1% -6.5%
------------------- --------- --------- --------- --------
Commercial Channel -4.9% +16.7% -0.8% +4.1%
------------------- --------- --------- --------- --------
Private label +15.7% -19.8% -9.8% -5.0%
------------------- --------- --------- --------- --------
Total Commercial -4.5% +16.1% -0.9% +3.9%
------------------- --------- --------- --------- --------
Total Company -7.6% +0.4% -2.7% -2.7%
------------------- --------- --------- --------- --------
Note:-
------------------- --------- --------- --------- --------
Total Company excl
Private label -7.8% +0.5% -2.7% -2.7%
------------------- --------- --------- --------- --------
Like for like
sales growth % Q1 Q2 Q3 Year to
Date
14 weeks 14 weeks 16 weeks
to to to
01-10-11 07-01-12 28-04-12
----------------- ---------- ---------- ---------- --------
Own stores -7.8% -4.2% -1.6% -4.4%
----------------- ---------- ---------- ---------- --------
Sales GBPm
Q1 Q2 Q3 Year to
Date
14 weeks 14 weeks 16 weeks
to to to
01-10-11 07-01-12 28-04-12
------------------- --------- ---------- ---------- --------
Own Stores 23.4 44.9 29.4 97.7
------------------- --------- ---------- ---------- --------
Franchise Stores 2.6 4.1 3.1 9.8
------------------- --------- ---------- ---------- --------
Thorntons Direct 1.2 5.5 2.5 9.2
------------------- --------- ---------- ---------- --------
Total Retail 27.2 54.5 35.0 116.7
------------------- --------- ---------- ---------- --------
Commercial Channel 18.9 28.7 27.0 74.6
------------------- --------- ---------- ---------- --------
Private label 0.4 0.3 0.4 1.1
------------------- --------- ---------- ---------- --------
Total Commercial 19.3 29.0 27.4 75.7
------------------- --------- ---------- ---------- --------
Total Company 46.5 83.5 62.4 192.4
------------------- --------- ---------- ---------- --------
Note:-
------------------- --------- ---------- ---------- --------
Total Company excl
Private label 46.1 83.2 62.0 191.3
------------------- --------- ---------- ---------- --------
Portfolio Stores New stores Resites Closures Stores
as as
at 07-01-12 at 28-04-12
------------------ ------------- ----------- -------- --------- -------------
Own stores 344 +1 -12 333
------------------ ------------- ----------- -------- --------- -------------
Franchise stores 230 +3 -8 225
------------------ ------------- ----------- -------- --------- -------------
Total 574 +4 -20 558
------------------ ------------- ----------- -------- --------- -------------
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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