Thorntons issue festive profit warning

23 December 2014

thorntons Shares in Thorntons have crashed by a third - a third! - and it becomes the first retailer to issue a profits warning this Christmas.

The company reckon it's down to lower orders from supermarkets and some issues at their warehouse.

The usual Christmassy affairs such as advent calendars, chocolate snowmen and Santas and that, have all done well, but customers don't seem to be that bothered about Thorntons regular fare, and as a result have suffered large drops in their usual orders from retailers.

Also, retailers being wary of such things, were all cautious and didn't place their orders until the last minute. The chocolate treat firm have been in the Deathwatch bagging area a lot this year, so it's not good.

They're not the only one, as a survey from advisory firm Begbies Traynor found that up to 135 retailers are in a critical condition, with the quarterly rent day looming on Christmas Day. We'll probably be filling our pages with doom and despair and news of brand managers sticking connecting up the exhaust pipe into their company Mondeo.

Julie Palmer, partner and retail expert at Begbies Traynor, said: “While most families will be reaching for the Quality Street and Celebrations this Christmas, it seems Thorntons is still failing to keep pace with the competition, surprising the market with a profit warning at the worst possible time of year for the struggling chocolatier.”

Quality Street? Pffft. Roses, darling.

Thorntons' chief executive Jonathan Hart, who joined the company in early 2011, has been trying to turn the business around . Approximately 50 shops will be closed by the end of 2016, and a couple of ranges such as Nostalgia and Harry Hopalot for Easter, should help turn things around.

TOPICS:   High Street News

4 comments

  • Championthewondermule
    I don't like Thorntons chocolates and I don't know anybody that does, everything they do all tastes the same and it's all truffle types.
  • Ellen
    I won't be eating Thornton's again ever since a massive crematorium was built right next to its main factory. I can't believe it was allowed, I mean it is spitting distance from where the chocolates are made!
  • GaGaForBarbara
    I bought a box of Thortons branded chocolate cakes from Tesco one friday for family coming round at the weekend- thinking it would be a nice treat. Popped them in the cupboard and brought them out a day later to find each cake was dry and the frosting was crumbling off. Tasted of dry, crumbly, old cakes interestingly, all were binned immediately. As I had thrown out the receipt, not believing I would have an issue with Thortons stuff! I took a pic of the box and the batch number and use by date next to the bar code instead and sent off an email via their website - 2 weeks later no reply. So sent an email to their CS direct, a week later they replied and said they were not willing to help as in their words "we have quality control throughout our system" and also as I did not have my receipt to send to them, I was advised to take it up with tesco. By that time the receipt, cakes and the box were all in the bin. Thortons = never again!
  • GoGoGarrett
    I struggle to see who Thorntons appeal to now. They seem to have been squeezed out on price by the lower end of the market (Roses, Quality Street, Milk Tray etc - all of who taste better to me in any case), and at the upper end of the market (Hotel Chocolat or local independents), they can't compare on taste. Plus the fact that they are stocked in supermarkets everywhere has cheapened the brand somewhat. I just don't think they have a place in the market any more.

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