Thorntons chief executive Mike Davies said: “There is still a huge opportunity for us at the top end of independents, where we do not have a presence.”
He explained that Thorntons only supplies a “handful” of the UK’s 55,000 independent retailers with its chocolates, although it also supplies large multiples including Tesco, Morrisons and Waitrose. “There is certainly the opportunity to expand our range with the multiples,” he said.
A big focus over the next 12 months will be establishing partnerships with top-quality independents, Davies added. He declined to provide figures or the names of retailers that it would target.
“The catchment area of my own stores would probably cover about 15 per cent of the population, so I still have the rest of the population to go for via partnerships with other retailers,” he said.
In the 14 weeks to October 6, Thorntons increased its commercial sales by 81 per cent to£13.1 million, compared with a 17 per cent decline in the 14 weeks to September 30, last year. Davies said that both increased business with existing commercial partners and the recruitment of new customers had driven the growth.
Total sales at the chocolate retailer, which has 368 company-owned stores and 218 franchise outlets, rose 28.5 per cent to£43 million over the more recent 14-week period. Davies said it had driven sales growth across its stores, commercial and direct channels, although he conceded that the wettest summer on record had helped.
Thorntons will increase its number of in-store cafes from 35 to up to 50 over the next 12 months.
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