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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 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMTHT
RNS Number : 2629J
Thorntons PLC
15 July 2013
THORNTONS PLC
("Thorntons" or "the Company")
FOURTH QUARTER TRADING UPDATE
Thorntons today reports its fourth quarter trading update for the ten weeks up to and including 29 June 2013, which demonstrates further progress in transforming the business. As this quarter is a ten week period (last year nine weeks), the figures for 2012 have been adjusted to allow comparison.
-- Total sales - Increase of 5.6% to GBP26.8 million.
-- Commercial (FMCG) Division- Continued strong growth in the Commercial division which will become Thorntons' largest division by the end of the current financial year in line with the strategy to rebalance the business. The prospects for the International channel continue to be encouraging, although currently still a small proportion of overall sales.
- UK Commercial sales grew by 11.8% to GBP9.2 million. - International sales more than doubled to GBP0.9 million. - Private label sales increased to GBP0.7 million.
-- Retail Division - Showed good progress towards the objective of creating a sustainable retail estate of 180-200 stores. The period saw positive like-for-like sales in Own Stores, a trend also reflected in the Franchise channel.
- Own Store like-for-like sales increased by 0.5%. Overall sales in Own Stores declined 3.8% to GBP13.9 million as a result of the 34 store closures during the year, in line with the Company's strategy.
- Franchise sales improved by GBP0.2 million to GBP1.3 million. - Thorntons Direct sales decreased by GBP0.1 million to GBP0.8 million.
-- As announced on 2 July 2013 we anticipate profit before tax, impairment and onerous lease charges for the full year to be ahead of current market expectations.*
* Current market consensus is GBP4.6m
Jonathan Hart, Thorntons' Chief Executive, commented:
"I'm pleased to report further encouraging progress during the final quarter of our financial year. Despite being our smallest sales quarter we have continued to demonstrate the positive impact of our strategy and the strength of our brand.
"Our UK Commercial sales growth and market share remain strong and our Own Stores have now delivered positive like-for-like growth across the whole of the second half of this year. We are on track with our store closure programme and have refurbished seven stores to our new format in the period under review.
"The trading environment continues to be challenging. The actions we have taken are delivering positive results reflected by the progressive recovery in our profitability over the past 18 months."
For further enquiries please contact:
Nadja Vetter / Georgina Hall, Cardew Group T: 020 7930 0777
Hot Features
Premium
Sales GBPm
Q1 Q2 Q3 Q4 Full Year
to 29-06-13*
14 weeks 14 weeks 14 weeks 10 weeks
to to to to
06-10-12 12-01-13 20-04-13 29-06-13
------------------ ----------- ----------- ----------- ---------- ---------------
Total Company 46.0 87.7 60.6 26.8 221.1
------------------ ----------- ----------- ----------- ---------- ---------------
Total Commercial 21.2 39.0 30.2 10.8 101.2
------------------ ----------- ----------- ----------- ---------- ---------------
Total Retail 24.8 48.7 30.4 16.0 119.9
------------------ ----------- ----------- ----------- ---------- ---------------
Sales growth %
Q1 Q2 Q3 Q4 Full Year
to 29-06-13*
14 weeks 14 weeks 14 weeks 10 weeks
to to to to
06-10-12 12-01-13 20-04-13 29-06-13
------------------ ----------- ----------- ----------- ---------- ---------------
Total Company -1.0% +5.0% +4.0% +5.6% +3.5%
------------------ ----------- ----------- ----------- ---------- ---------------
Total Commercial +9.8% +34.6% +15.9% +21.1% +21.5%
------------------ ----------- ----------- ----------- ---------- ---------------
Total Retail -8.6% -10.7% -5.6% -2.8% -8.0%
------------------ ----------- ----------- ----------- ---------- ---------------
Retail LFL -1.7% -1.3% +0.2% +0.5% -0.8%
------------------ ----------- ----------- ----------- ---------- ---------------
Sales GBPm
Q1 Q2 Q3 Q4 Full Year
to 29-06-13*
14 weeks 14 weeks 14 weeks 10 weeks
to to to to
06-10-12 12-01-13 20-04-13 29-06-13
----------------- ---------- ----------- ----------- ---------- ---------------
UK Commercial 17.8 34.4 27.4 9.2 88.8
----------------- ---------- ----------- ----------- ---------- ---------------
International 2.0 2.1 1.1 0.9 6.1
----------------- ---------- ----------- ----------- ---------- ---------------
Private Label 1.4 2.5 1.7 0.7 6.3
----------------- ---------- ----------- ----------- ---------- -------------------
Total Commercial 21.2 39.0 30.2 10.8 101.2
----------------- ---------- ----------- ----------- ---------- ---------------
Own Stores 21.7 40.9 26.0 13.9 102.5
----------------- ---------- ----------- ----------- ---------- ---------------
Franchise Stores 2.0 3.0 2.2 1.3 8.5
----------------- ---------- ----------- ----------- ---------- ---------------
Thorntons Direct 1.1 4.8 2.2 0.8 8.9
----------------- ---------- ----------- ----------- ---------- ---------------
Total Retail 24.8 48.7 30.4 16.0 119.9
----------------- ---------- ----------- ----------- ---------- ---------------
Total Company 46.0 87.7 60.6 26.8 221.1
----------------- ---------- ----------- ----------- ---------- ---------------
Sales growth %
Q1 Q2 Q3 Q4 Full Year
to 29-06-13*
14 weeks 14 weeks 14 weeks 10 weeks
to to to to
06-10-12 12-01-13 20-04-13 29-06-13
----------------- ---------- ---------- ---------- ---------- ---------------
UK Commercial +1.9% +25.2% +10.0% +11.8% +13.7%
----------------- ---------- ---------- ---------- ---------- ---------------
International +42.4% +72.5% +30.8% +103.5% +56.0%
----------------- ---------- ---------- ---------- ---------- ---------------
Private Label +222.3% +698.7% +416.1% +210.7% +385.0%
----------------- ---------- ---------- ---------- ---------- ---------------
Total Commercial +9.8% +34.6% +15.9% +21.1% +21.5%
----------------- ---------- ---------- ---------- ---------- ---------------
Own Stores -7.0% -9.0% -4.1% -3.8% -6.7%
----------------- ---------- ---------- ---------- ---------- ---------------
Franchise Stores -23.8% -26.6% -20.9% +18.0% -19.9%
----------------- ---------- ---------- ---------- ---------- ---------------
Thorntons Direct -8.5% -13.3% -4.6% -11.1% -10.4%
----------------- ---------- ---------- ---------- ---------- ---------------
Total Retail -8.6% -10.7% -5.6% -2.8% -8.0%
----------------- ---------- ---------- ---------- ---------- ---------------
Total Company -1.0% +5.0% +4.0% +5.6% +3.5%
----------------- ---------- ---------- ---------- ---------- ---------------
* The tables above reflect a 52 week trading period. Last year was a 53 week period, against this comparison the total annual sales growth was c1.8%.
Portfolio Stores as New stores Resites Closures Stores as
at 20-04-13 at 29-06-13
------------------ ------------- ----------- -------- --------- -------------
Own stores 309 -13 296
------------------ ------------- ----------- -------- --------- -------------
Franchise stores 187 2 1 -4 186
------------------ ------------- ----------- -------- --------- -------------
Total 496 2 1 -17 482
------------------ ------------- ----------- -------- --------- -------------
This document contains certain forward-looking statements regarding our intentions, beliefs or current expectations and those of our officers, Directors and employees concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this document and, unless otherwise required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements. Nothing in this document should be construed as a profit forecast. The Company and its Directors accept no liability to third parties in respect of this document save as would arise under English law.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTRTMATMBIBBFJ
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