Thorntons issues fresh profit warning

Thorntons: profits expected to fall short of expectations
Thorntons: profits expected to fall short of expectations

Thorntons, the troubled chocolate maker, has today ( 21 December) issued a fresh profit warning, citing poor customer confidence and rivals' promotions as hitting its performance.

Thorntons has endured a difficult time recently and is currently undergoing a strategic review, which will lead to the closure of 180 stores over three years.

In a frankly worded statement, the company said it "now considers profits for its full year will fall short of current expectations".

It said its pre-tax profit figure will be around break-even for the 53 weeks ending June 30 next year but this figure excludes "onerous" lease charges.

Thorntons' profits have been hit by supermarkets offering big discounts on chocolate sales.

The company has issued a number of profit warnings this year.

In August it attempted to rejuvenate its brand through ecommerce, driving awareness of its online business, and pushing the "convenience" of its offers and gift-delivery service.

In September, the company reported a loss of £253,000 for the year to 25 June. This compared to a profit of £4.4 the year before.

HMV and Blacks Leisure are among other high-street retailers which have endured difficult trading of late.

follow John Reynolds on Twitter @johnreynolds10


Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs

subscribe now


Oasis #springasmile digital campaign gets people doing good deeds
Coca-Cola: 'Don't approach bloggers with a fait accompli'
Tesco CMO Matt Atkinson: 'It is so important not to stereotype mothers'
McDonald's gives Ronald a new look ahead of global 'Fun times' social media push
In pictures: BrewDog opens first craft beer shop BottleDog for 'beer aficionados'
Facebook ad revenue leaps $1bn as it invests in targeting
Malteser or Maltesers? Mars takes Hershey trademark dispute to court
Apple Q2 profits top $10bn as iPhone sales soar
Lynx tells men not to leave love to fate
HBO captures awkwardness of watching sex scenes with parents
Primark to open first US stores with Boston chosen as flagship location
Marketing spend on the up but a reality check is needed before celebrating
Top 10 ads of the week: Jackpotjoy and BT Broadband fend off Kevin Bacon
Lidl beats Tesco to 10m Facebook fans
Center Parcs ad banned for encouraging parents to take kids out of school
Coca-Cola, Cadbury and Amazon named top brands for targeting youth market
Leaked document shows Nokia to be rebranded as Microsoft Mobile
Nike lays-off hardware staff in move that casts doubt on future of FuelBand
Greenpeace says save the bees or humans will die
What brands need to know about changes to VAT and online downloads in 2015
Jimmy Savile victims urged to claim compensation in new ad campaign
UKIP launches biggest  ad campaign and stirs up 'racist' accusations
Apple boss Tim Cook provides voiceover on ad touting firm's renewed green commitments
John Lewis walks consumers through its history to celebrate 150 years of business
Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up
Hottest virals: Cute puppies star in Pedigree ad, plus Idris Elba and Fruyo
Amnesty International burns candles to illuminate new hope
Tom of Finland's 'homoerotic' drawings made into stamps
Toyota achieves the impossible by calming angry Roman drivers
YouTube reveals user habits to appeal to 'older' marketers