Hotel Chocolat strikes Hut Group deal in US as coronavirus hammers profits

Hotel Chocolat

Hotel Chocolat has struck a deal with The Hut Group’s Ingenuity technology arm to bolster its presence in the US after the retailer’s profits were hammered by the coronavirus crisis.

The chocolatier swung into the red during the 52 weeks to June 28, announcing a statutory pre-tax loss of £6.5m, compared with a £10.9m profit the previous year.

Stripping out the impact of exceptional costs, Hotel Chocolat’s pre-tax profit tumbled 83% to £2.4m, while underlying EBITDA fell 54% to £9.4m.

The retailer’s revenues rose 3% during the year to £136.3m, but dropped 14% during the second half of the year as a result of the coronavirus pandemic and the 12-week closure of its physical stores – impacting the crucial Easter period.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.