Thorntons prepares for 2013 brand revamp

Thorntons: to unveil new brand identity
Thorntons: to unveil new brand identity

Thorntons is set to unveil a new brand identity next year after the troubled chocolate maker unveiled a steep drop in annual profits, which plunged 79% from £4.3m to £0.9m.

Thorntons has been hit hard by weak consumer spending and competition from supermarkets, forcing it to announce the planned closure of 180 stores.

Today (12 September) it reported its financial results for the 53-week period to the end of June.

Revenue in the period dipped from £218.3m to £217.1m. Pre-tax profits were down from £4.3m to £0.9m.

Commenting on the results, the chocolate maker said in a statement that its three-year turn-around plan was starting to bear fruit, pointing to a strong performance over Easter and the reduced exposure to underperforming stores.

In terms of the Thorntons brands, the company said it had undertaken a "thorough review of our brand in the context of our strategy and vision to be Britain's best-loved chocolate brand making every customer smile".

While divulging few details, Thorntons said: "We have also simplified our categories, ranges and approach to our customers which will support our activity for next year. A full review of our brand identity has been completed and will start to become visible over the year ahead.

The results topped analyst expectations, as overall sales were steady.

Thorntons said that online sales increased by 9.8% during the year.

Discussion

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

Latest

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
Toyota achieves the impossible by calming angry Roman drivers
Tom of Finland's 'homoerotic' drawings made into stamps
YouTube reveals user habits to appeal to 'older' marketers
Ex-M&S marketing chief Steven Sharp consulting at WPP
Wolff Olins reveals new CEO after Apple poaches Karl Heiselman
Glasgow offers £30,000 prize to best digital idea for 2014 Commonwealth Games
Google's revenues surge but shares drop as it grapples with transition to mobile
Facebook beats Twitter to most 'marketing friendly' social media site crown, says DMA
Fableists believe children like Finn should be outdoors enjoying life
Homebase, Baileys and Camelot join the line-up at Media360
MasterCard renews Rugby World Cup sponsorship to push cashless message
Lynx unleashes £9m 'Peace invasion' campaign
Social Brands 100 Youth: Pizza Hut most social youth brand in UK
Cheryl Cole is wild and arresting in new L'Oreal work
Morrisons told not to show alcohol ads during YouTube nursery rhymes
O2 head of brand Shadi Halliwell departs after 23 years at company in restructure
Tesco hit by further sales decline as it turns to digital Clubcard and social network
Branding guru Wally Olins dies aged 83
Duracell short film captures epic Transatlantic voyage
Ash runs Tinder experiment to show smokers are less desirable to opposite sex
British Airways teams up with Gerry Cottle Jnr for summer of rooftop film screenings
Arklu says 'girls can be superheroes too' with doll design competition
Coke enters squash market with Oasis Mighty Drops
Virgin Galactic signs up Land Rover as space flight sponsor
Motorola marketer Andrew Morley departs as Google gears up for sale to Lenovo
US Airways apologises after tweeting obscene image at a customer
Mumsnet admits users' emails and passwords accessed via Heartbleed bug