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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Thorntons | LSE:THT | London | Ordinary Share | GB0008901935 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 142.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTHT
RNS Number : 3764H
Thorntons PLC
11 July 2012
THORNTONS PLC
("Thorntons" or "the Company")
FOURTH QUARTER TRADING UPDATE
Thorntons PLC today reports its fourth quarter trading update for the nine weeks up to and including 30 June 2012, which is in line with management expectations. The comparative numbers for the fourth quarter in 2011 are restated on a nine week basis to allow like for like comparison as that period only had eight weeks.
Key points:
-- Total sales for the nine weeks increased by GBP1.8 million to GBP24.7 million, an improvement of 7.8%.
-- Commercial sales grew by GBP2.9m to GBP9.3 million, due to the introduction of this summer's 'Best of British' range and some differences in the timing of deliveries to our Commercial customers.
-- Own Store like for like sales increased by 0.7%. Overall sales in Own Stores declined GBP0.7m to GBP13.7 million as a result of the 36 store closures during the year, in line with the Company's strategy.
-- Franchise sales declined to GBP0.9 million. Sales were adversely affected by the administration of Clinton Cards Plc. Thorntons had franchises in 30 Birthdays stores and 16 Clinton Cards stores.
-- Thorntons Direct sales were broadly flat at GBP0.8 million.
-- We anticipate profit before tax, impairment and onerous lease charges for the full year to be in line with our expectations.
Jonathan Hart, Thorntons' Chief Executive, commented:
"Although we are encouraged by this performance, this nine week period contributes less than 12% to our annual sales and we continue to remain cautious about the outlook for the coming year. Trading initiatives in our Own Stores, implemented since our strategic review, combined with new product launches have led to some improvement in underlying sales. Within the Commercial channel sales have been supported by the incremental benefit of this summer's 'Best of British'range and timing of deliveries to our customers.
"We remain committed to our strategy of rebalancing our business, revitalising our brand and restoring profitability and I am pleased to see that the actions we have taken are starting to deliver improvements in a difficult trading environment."
For further information please contact:
Cardew Group T: 020 7930 0777
Nadja Vetter / Emma Crawshaw
Sales growth % Q1 Q2 Q3 Q4 Full Year 53 weeks to 14 weeks 14 weeks 16 weeks 9 weeks 30-06-12 to to to to 01-10-11 07-01-12 28-04-12 30-06-12 ----------------- --------- --------- --------- --------- --------- Own Stores -10.1% -6.8% -6.1% -4.7% -7.1% ----------------- --------- --------- --------- --------- --------- Franchise Stores -6.4% -17.3% +12.6% -24.0% -8.6% ----------------- --------- --------- --------- --------- --------- Thorntons Direct -8.1% +8.0% +2.2% -1.3% +3.5% ----------------- --------- --------- --------- --------- --------- Total Retail -9.7% -6.4% -4.1% -6.0% -6.5% ----------------- --------- --------- --------- --------- --------- Commercial Channel -4.9% +16.7% -0.8% +45.4% +7.4% ----------------- --------- --------- --------- --------- --------- Private label +15.7% -19.8% -9.8% -22.7% -8.3% ----------------- --------- --------- --------- --------- --------- Total Commercial -4.5% +16.1% -0.9% +42.6% +7.1% ----------------- --------- --------- --------- --------- --------- Total Company -7.6% +0.4% -2.7% +7.8% -1.6% ----------------- --------- --------- --------- --------- --------- Note:- ----------------- --------- --------- --------- --------- --------- Total Company excl Private label -7.8% +0.5% -2.7% +8.1% -1.5% ----------------- --------- --------- --------- --------- --------- Like for like Q1 Q2 sales growth % 14 weeks 14 weeks Q3 Q4 Full Year to to 53 weeks to 01-10-11 07-01-12 16 weeks 9 weeks 30-06-12 to to 28-04-12 30-06-12 -------------- --------- --------- --------- --------- ---------- Own stores -7.8% -4.2% -1.6% +0.7% -3.8% -------------- --------- --------- --------- --------- ---------- Sales GBPm Q1 Q2 Q3 Q4 Full Year 53 weeks to 14 weeks 14 weeks 16 weeks 9 weeks 30-06-2012 to to to to 01-10-11 07-01-12 28-04-12 30-06-12 ----------------- --------- --------- --------- --------- ----------- Own Stores 23.4 44.9 29.4 13.7 111.4 ----------------- --------- --------- --------- --------- ----------- Franchise Stores 2.6 4.1 3.1 0.9 10.7 ----------------- --------- --------- --------- --------- ----------- Thorntons Direct 1.2 5.5 2.5 0.8 10.0 ----------------- --------- --------- --------- --------- ----------- Total Retail 27.2 54.5 35.0 15.4 132.1 ----------------- --------- --------- --------- --------- ----------- Commercial Channel 18.9 28.7 27.0 9.1 83.7 ----------------- --------- --------- --------- --------- ----------- Private label 0.4 0.3 0.4 0.2 1.3 ----------------- --------- --------- --------- --------- ----------- Total Commercial 19.3 29.0 27.4 9.3 85.0 ----------------- --------- --------- --------- --------- ----------- Total Company 46.5 83.5 62.4 24.7 217.1 ----------------- --------- --------- --------- --------- ----------- Note:- ----------------- --------- --------- --------- --------- ----------- Total Company excl Private label 46.1 83.2 62.0 24.5 215.8 ----------------- --------- --------- --------- --------- ----------- Portfolio Stores New stores Resites Closures Stores as as at 28-04-12 at 30-06-12 ----------- ------------ ---------- ------- -------- ------------ Own stores 333 - +1 -4 330 ----------- ------------ ---------- ------- -------- ------------ Franchise stores 225 - +1 -49 177 ----------- ------------ ---------- ------- -------- ------------ Total 558 - +2 -53 507 ----------- ------------ ---------- ------- -------- ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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