HIGH street sales at chocolate retailer Thorntons surged over the Christmas period as consumers tucked into its advent calendars and Snowman-themed treats.
The company said like-for-like retail sales rose by five per cent in the 14 weeks to 10 January and by 7.8 per cent in December – a turnaround from the 3.7 per cent fall in its first quarter.
In contrast, Thorntons said UK commercial sales declined by 10.5 per cent, blaming a reduction in anticipated orders from major supermarkets and problems at the firm’s new depot in Derbyshire.
Shares in Thorntons, which lost more than a quarter of their value in December after it issued a shock profit warning, rose five per cent on the back of the upbeat results.
Analysts at Investec are forecasting full-year pre-tax profits of £6.5m, down from their original expectations of £9.4m.