Hotel Chocolat has posted deeply disappointing results for the year to 30 June. Having had its 130 stores closed across the Easter period was particularly problematic for the chocolate specialist. Overall sales for the year were up by 3 per cent to reach £136.3 million, but the business reported a pre-tax loss of £7.5 million as compared with a profit of £14.1 million the year prior. Hotel Chocolat had been on course to achieve a record year which began with revenues up 14 per cent up in the first half, but with stores forced to close during the second half sales were decimated as the business lost its in-store impulse sales. Some, but not enough customers switched to buying online.
However, the first 12 weeks of the current year have seen trading largely “inline” with expectations and online demand coming in at around 150 per cent over the same period last year.
Angus Thirwell, co-founder and CEO commented: “Whilst uncertainty will continue for all of us in the coming year, our pipeline of potential growth opportunities has never been stronger.
“We are working hard to anticipate potential trading scenarios for the year ahead and are planning prudently to be ready to adapt quickly and effectively as the situation evolves. To achieve this, we have invested in our ability to increase production and expand our supply chain capacity, as well as strengthen the leadership team to ensure a continued focus on product innovation, eCommerce, supply chain and sustainability.”
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