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Shop sales down for Thorntons
The Press Association reports that Thorntons like-for-like shop sales were down 4.6% in the 14 weeks to 17 April, greater than the 2.4% decline seen in the previous six months.
Shares slumped 12% after Thorntons reduced its pre-tax profits guidance for the year to £7.5m, compared with the City’s forecast of around £8.9m.
Thorntons said it appeared that more customers were opting to buy its chocolates from supermarkets rather than the company’s own stores.
Source: Associated Press
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