Thorntons Restructures to Tackle Declining Profits

 Breaking News
  • Guinness Remains Ireland’s Most Valuable Brand at €2.1 Billion Guinness remains Ireland’s most valuable brand after growing by 5% over the last year to a brand value of €2.1 billion on the back of new product innovations and steady sales of the world-famous draught, according to the latest report by Brand Finance, the world’s leading independent brand valuation and strategy consultancy. Guinness’s brand value has [...]...
  • New Décor Salt Convinces With a Crunchy Bite and High Stability When it comes to pretzels or salt sticks, the visual contrast between a dark crust and a rich salt décor is a mark of quality for most consumers. New Slow Milling® Pretzel Salt Light SG from GoodMills Innovation enables salt reduction in pretzel décor without the consumer noticing any visible difference. At the same time, [...]...
  • DuPont’s Microbiome Venture Announces Second Strategic Partnership Three months after its formation, the DuPont Nutrition & Health Microbiome Venture has announced its second strategic research and development partnership. The newly forged relationship with the Center of Food and Fermentation Technologies (TFTAK) in Tallinn, Estonia, will focus on developing cultivation and bioprocess capabilities for ‘next-generation’ probiotics. Last November, DuPont Nutrition & Health (DuPont) announced [...]...
  • JBT Announces Comprehensive Relaunch of Online Presence JBT Corporation, one of the world’s leading solutions providers for the food and beverage processing industries, has announced the comprehensive relaunch of its online presence, with the introduction of a redesigned flagship website. To better accommodate a range of solutions that includes not just core JBT products, but also innovations from its global businesses and [...]...
  • Building the Unilever of the Future Unilever has announced the next steps in its transformation into a simpler, more agile and more focused business. The changes are designed to further drive long-term performance and shareholder value, and build upon the company’s Connected 4 Growth programme. Unilever will simplify its corporate structure. This entails moving from two legal entities – Unilever NV and [...]...

Thorntons Restructures to Tackle Declining Profits

Thorntons Restructures to Tackle Declining Profits
September 08
11:43 2011

Although it increased sales by 1.7% to £218.3 million, UK chocolate manufacturer and retailer Thorntons has reported a 37.3% plunge in profit before taxation and exceptionals to £4.3 million for the 52 weeks ended 25 June 2011. Trading was particularly challenging in the company’s retail business, with own stores and franchise sales down by 8.9% and 10.8% respectively. After exceptional charges of £5.4 million, the company was left with a pre-tax loss of £1.07 million.


Thorntons is restructuring its own stores business to achieve an estate of between 180 and 200 outlets, located primarily in the top 150 retail locations. This will involve taking advantage of the 179 lease expiries over the next three years to close around 120 stores and explore opportunities to close a further 60 stores in weak locations over the same time frame.


“In the year that marks the centenary of Thorntons, I am pleased to report record overall sales, despite the challenging retail environment. This highlights the strength of our multi-channel strategy, as well as that of the Thorntons brand, with sales of branded products rising by 2.2%. commercial sales have grown by an impressive 25.9% over the full year,” says Jonathan Hart, chief executive of Thorntons. “Our goal over the next three years is to rebalance the business and to create a profitable and sustainable retail estate. While we expect to see the weakness in high street footfall and consumer spending to continue through 2012, we are confident that this strategy is right for the company.”

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • March 18, 2018ProWein
  • March 21, 2018World Olive Oil Exhibition
  • March 28, 2018FOOD INDUSTRY
  • April 4, 2018The leading event for the snack and food-on-the-go market
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here