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Thorntons cuts jobs after summertime sales blues
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14 July 2010
Chocolate retailer Thorntons today axed 35 staff after sales melted over the summer.
Sales at stores open for more than a year fell 6% in the 10 weeks to June 26 — down from the 4.6% drop seen in the previous quarter — as hot weather hit trading.
The summer is traditionally Thorntons's weakest time of year, but a stock overhang also forced it to cut prices more sharply than expected.
Same-store sales over the year were down 3.5% as the firm struggled to attract customers. Sales at its Thorntons Direct webiste rose 15.4%.
A review of the business means that 35 staff will lose their jobs in the head office in Derbyshire over the next three months.
The firm issued a profits warning in May when it announced that chief executive Mike Davies would retire in favour of a successor with "specific retail expertise".
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