Shares in chocolates group Thorntons crashed by a third as it became the first British retailer to issue a pre-Christmas profit warning, hit by lower orders from supermarket customers and problems at its new warehouse.
While seasonal items such as chocolate snowmen, Santas, Rudolphs and advent calendars have been selling well, the chocolate retailer has been hit by a “significant” reduction in orders from the major grocers. They also placed their orders later than expected in the run-up to Christmas. This means sales from UK supermarkets will be down in the firm’s second quarter. Thorntons said its 249 own stores are seeing like-for-like sales growth.
from Network Front | The Guardian http://ift.tt/1B0ZIcURead More