Thorntons saw its underlying sales fall back into negative territory in its first quarter, as the chocolatier said it was “cautious” in its outlook for Christmas.
Following a sustained period of underperformance, the UK’s biggest confectionery chain had trumpeted a return to growth in the final weeks of its last financial year but Thorntons today posted a 1.7% decline in like-for-like sales over the 14 weeks to October 6.
Chief executive Jonathan Hart said: “Consumer spending and the wider economy remain weak and difficult to predict. We are therefore cautious in our outlook for the peak trading season ahead and have set our plans accordingly.”
Thorntons closed 10 further stores in the quarter, following its exiting 36 unprofitable stores over the year to June 30. Sales at its non-franchise stores fell by 7% to £21.7 million. Its commercial division saw sales up 9.8% to £21.2 million.
