Thorntons raises prices to meet targets
Published Date:
17 July 2008
CHOCOLATE retailer Thorntons yesterday became the latest firm to reveal it has hiked prices to offset soaring costs.
The firm said it had increased prices across “all product ranges” and that, while costs will remain high, full-year results will meet targets.
Like-for-like sales in the ten weeks to June 28 were up 3.6 per cent, with total sales in the year to the same date rising to £208.1 million from £186m a year earlier.
Chief executive Mike Davies said: “We are pleased to be able to report good sales growth for the seventh consecutive quarter.”
Derbyshire-based Thorntons has 379 stores, with another 250 franchises.
Own-store sales increased by 8.2 per cent in the ten-week period to £18.7m and by 4.6 per cent for the full year to £135.1m. Franchise sales showed an increase of 6 per cent to £1.7m and 14.5 per cent for the full year at £14.9m.
Sales via other retail outlets grew by 47 per cent to £7m in the quarter and by 33.8 per cent in the full year.
Internet sales were up by 44.3 per cent to £1.2m in the quarter and resulting in full year growth of 26.6 per cent.
The full article contains 221 words and appears in The Scotsman newspaper.
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Last Updated:
16 July 2008 8:18 PM
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Source:
The Scotsman
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Location:
Edinburgh
