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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 |
RNS Number:3873G Thorntons PLC 21 January 2003 21 January 2003 SALES TRADING STATEMENT 28 WEEKS ENDED 11 JANUARY 2003 Thorntons PLC, the speciality retailer and manufacturer of high quality chocolate, toffee and other sweet foods, today reports sales figures for the 28 weeks ended 11 January 2003. * Total company sales increased by 2.3% to #104.7m in the 28 weeks. * Own shop sales held up well and were virtually unchanged at #83.8m despite the planned reduction in estate size, from 395 shops to 390, as poorer performing shops were closed. * Own Shop like-for-like sales over the half year showed two contrasting pictures. Prior to the Christmas period there had been 27 consecutive weeks of growth including the first 18 weeks of the financial year when cumulative like for like growth was +5.8%. The 7 weeks of Christmas trading, to Saturday 28th December, were -0.9% but this was against +8.0% for the comparable period last year. Overall, the half year like for like sales performance was +1.6%, with an improved margin. * Franchise sales, at #7.7m, were up 9.7% and the number of outlets increased by 10 to 191. * Commercial sales grew by 7.4% to #9.8m, the first real growth in over 4 years, driven by distribution of Thorntons branded impulse products through third parties. * Thorntons Gift Delivery Service (Internet and Mail Order) continues to grow strongly and sales rose by 37% to #3.4m. * Royalty income from the licensed range of cakes, puddings, biscuits and other sweet food was #251,000 in the half year. This compares with #56,000 in the same period last year. Peter Burdon, Chief Executive, commented: '"The strong sales performance over the first 18 weeks gives us confidence that our underlying business offer is improving and provides further evidence that we are moving strongly in the right direction in a difficult economic environment. The success we are seeing through a widening of the brand offer and new routes to market supports this. Christmas was tough against a strong performance last year, but I am pleased we improved our margin levels. Interim profits, whilst within the range of our expectations, are likely to be towards the lower end of that range. Consequently we are a little more cautious about the company prospects for the full year but remain optimistic given the strength of our product offer ahead of the important Valentines Day, Mothers Day and Easter trading periods." Thorntons plc will be announcing their Interim Results on Tuesday February 25th, 2003 For further information, please contact: Peter Burdon - Chief Executive, Thorntons PLC 01773 540550 Martin Allen - Finance Director, Thorntons PLC 01773 540550 Charles Ryland / Catherine Miles - Buchanan Communications 020 7466 5000 1. Interim Sales Analysis First Half Sales First Half Sales Full Year Sales 2002/03 2001/02 2001/02 #m #m #m Own shop 83.8 83.7 134.5 Franchise 7.7 7.0 11.3 Commercial 9.8 9.2 13.8 Gift Delivery Service 3.4 2.5 4.2 TOTAL 104.7 102.4 163.8 2. Comparison of 2002/2003 sales with the previous year 28 weeks ending 11 28 weeks ending Full Year January 2003 12 January 2002 2001/02 Own shop -% 2.1% 2.3% Franchise 9.7% 30.9% 22.6% Commercial 7.4% (14.9)% (8.5)% Gift Delivery Service 37.1% 100.1% 89.4% TOTAL 2.3% 3.0% 3.7% Own Shops like-for-like 1.6% 4.1% 3.6% 3. Changes in the retail estate can be summarised as follows Opening number 395 400 400 New shops 2 2 3 Resites 2 1 3 Closures (9) (9) (11) Closing number 390 394 395 Franchise shops trading 191 181 181 Royalties from licensed Products 251 56 189 (#000) This information is provided by RNS The company news service from the London Stock Exchange END TSTBMMATMMMTBPJ
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