TIDMTHT 
 
RNS Number : 4357K 
Thorntons PLC 
20 April 2010 
 

 
 
 
 
FOR IMMEDIATE RELEASE 
                        20 APRIL 2010 
 
                                  Thorntons PLC 
 
 
                Trading Update and Interim Management Statement 
 
 
Thorntons PLC ('Thorntons' or 'the Company') today reported its third quarter 
trading update for the 14 weeks up to and including 17 April 2010. Overall, 
Group sales since January were up 3.1% to GBP60.3 million, while Own Store sales 
declined by 4.9%. Sales of Thorntons branded products grew by 5.9%. In an 
economic environment where consumers remain focused on value, the Board is 
taking a cautious view on the outlook for the remainder of the year and now 
expects profit before tax and exceptional items will be approximately GBP7.5 
million (2009: GBP6.3 million). 
 
Key points 
 
·     Own Store sales declined by 4.9% to GBP33.5 million and like for like 
sales declined by 4.6%. The unusually severe weather conditions in the period 
and sales switching from our Own Stores to the Commercial Channel, particularly 
with boxed chocolates, proved challenging. While like for like sales in the run 
up to Easter were positive, Easter trading overall was below plan. 
 
·     Sales in the Commercial Channel continued to perform strongly with sales 
growth of 33.9% to GBP20.8 million. The launch of Melts into supermarkets and a 
successful Easter campaign helped contribute to the result. 
 
·     Franchise sales declined by 20.6% to GBP3.1 million. Whilst three stores 
were opened during the period, the total number remained at 222 compared to 254 
at the same time last year prior to Birthdays going into administration. 
Franchise like for like sales experienced a similar trend to Own Stores. 
 
·     Thorntons Direct made good progress and grew by 32.4% to GBP2.5 million. 
Both the consumer and corporate business made a positive contribution. The 
personalisation of products with iced messages or photographs on chocolate boxes 
proved popular. 
 
 
 
 
 
For further information please contact: 
 
Cardew Group 
Anthony Cardew / Nadja Vetter / Emma Consett 
      T: 020 7930 0777 
 
 
 
 
 
 
 
 
 
 
 
+----------------+----------+----------+----------+----------+ 
| Sales growth % |    Q1    |    Q2    |    Q3    |          | 
|                |14 weeks  |14 weeks  |14 weeks  |          | 
|                |    to    |    to    |    to    | Year to  | 
|                |03-10-09  |09-01-10  |17-04-10  |  Date    | 
|                |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Own Stores     |  +1.9%   |  -4.5%   |  -4.9%   |  -3.1%   | 
+----------------+----------+----------+----------+----------+ 
| Franchise      |  -15.2%  |  -18.1%  |  -20.6%  |  -18.1%  | 
| Stores         |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Thorntons      |  +2.4%   |  +10.9%  |  +32.4%  |  +15.2%  | 
| Direct         |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Total Retail   |  +0.0%   |  -4.9%   |  -4.7%   |  -3.7%   | 
+----------------+----------+----------+----------+----------+ 
| Commercial     |  +40.4%  |  +42.6%  |  +33.9%  |  +38.5%  | 
| Channel        |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Private label  |  -75.3%  |  -87.7%  |  -79.5%  |  -81.6%  | 
+----------------+----------+----------+----------+----------+ 
| Total          |  +7.2%   |  +6.5%   |  +21.6%  |  +12.0%  | 
| Commercial     |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Total Company  |  +2.3%   |  -2.4%   |  +3.1%   |  +0.5%   | 
+----------------+----------+----------+----------+----------+ 
| Note:-         |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Total Company  |  +10.1%  |  +3.0%   |  +5.9%   |  +5.6%   | 
| excl Private   |          |          |          |          | 
| label          |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
 
+----------------+----------+----------+----------+----------+ 
| Like for like  |    Q1    |    Q2    |    Q3    |          | 
| sales growth % |14 weeks  |14 weeks  |14 weeks  |          | 
|                |    to    |    to    |    to    | Year to  | 
|                |03-10-09  |09-01-10  |17-04-10  |  Date    | 
|                |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Own stores     |  +1.3%   |  -4.4%   |  -4.6%   |  -3.2%   | 
+----------------+----------+----------+----------+----------+ 
 
+----------------+----------+----------+----------+----------+ 
| Sales GBPm     |    Q1    |    Q2    |    Q3    |          | 
|                |14 weeks  |14 weeks  |14 weeks  |          | 
|                |    to    |    to    |    to    | Year to  | 
|                |03-10-09  |09-01-10  |17-04-10  |  Date    | 
|                |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Own Stores     |  27.1    |  51.7    |  33.5    |  112.3   | 
+----------------+----------+----------+----------+----------+ 
| Franchise      |   3.0    |   5.3    |   3.1    |  11.4    | 
| Stores         |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Thorntons      |   1.1    |   4.7    |   2.5    |   8.3    | 
| Direct         |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Total Retail   |  31.2    |  61.7    |  39.1    |  132.0   | 
+----------------+----------+----------+----------+----------+ 
| Commercial     |  14.6    |  18.4    |  20.8    |  53.8    | 
| Channel        |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Private label  |   1.0    |   0.6    |   0.4    |   2.0    | 
+----------------+----------+----------+----------+----------+ 
| Total          |  15.6    |  19.0    |  21.2    |  55.8    | 
| Commercial     |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Total Company  |  46.8    |  80.7    |  60.3    |  187.8   | 
+----------------+----------+----------+----------+----------+ 
| Note:-         |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
| Total Company  |  45.8    |  80.1    |  59.9    |  185.8   | 
| excl Private   |          |          |          |          | 
| label          |          |          |          |          | 
+----------------+----------+----------+----------+----------+ 
 
+----------------+----------+--------+---------+----------+----------+ 
| Portfolio      |          |  New   |         |Closures  |          | 
|                |  Stores  |stores  |Resites  |          |  Stores  | 
|                |  as at   |        |         |          |    as    | 
|                |09-01-10  |        |         |          |    at    | 
|                |          |        |         |          |17-04-10  | 
+----------------+----------+--------+---------+----------+----------+ 
| Own Stores     |   378    |   -    |    -    |    -1    |   377    | 
+----------------+----------+--------+---------+----------+----------+ 
| Franchise      |   222    |   3    |    -    |    -3    |   222    | 
| Stores         |          |        |         |          |          | 
+----------------+----------+--------+---------+----------+----------+ 
| Total          |   600    |   3    |    -    |    -4    |   599    | 
+----------------+----------+--------+---------+----------+----------+ 
 
                                      Ends 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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