Analyst Views | What do you make of Thorntons' fourth quarter update?

 
Kasmira Jefford
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BETHANY HOCKING, INVESTEC
The fourth quarter was a good quarter for Thorntons, with commercial sales up 11.8 per cent and retail like-for-likes up 0.5 per cent, both against the toughest comparatives of the year and marking accelerations from the respective third quarter rates. We increase our profit target from £4.5m to £5.2m.

NICK BUBB, INDEPENDENT ANALYST
It’s a good job that Thorntons’ financial year ran to 29 June, as the hot weather since then will not have helped chocolate sales, even if some shops also sell ice-cream. Still, the strategy of pushing commercial sales and shrinking the retail exposure seems to be working, with Thorntons confirming better than expected profits.

NEIL SAUNDERS, CONLUMINO
Thorntons is rebalancing of the business away from retail towards commercial and that means that there is still a degree of pain. But the numbers look very positive, particularly international, which has great potential going forward. Overall, it is still a difficult time but Thorntons is moving in steadily in the right direction.