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| Thorntons set to close up to 180 shops | Thorntons set to close up to 180 shops |
| (about 1 hour later) | |
| Thorntons is to close up to 180 stores over the next three years following a strategic review of its business. | Thorntons is to close up to 180 stores over the next three years following a strategic review of its business. |
| The chocolate maker, which gave a profit warning in May, said "a minimum" of 120 shops would shut, with the possibility of an extra 60 closures. | The chocolate maker, which gave a profit warning in May, said "a minimum" of 120 shops would shut, with the possibility of an extra 60 closures. |
| Thorntons said the outlets that will be closed are among the 364 stores directly owned and run by the company. | Thorntons said the outlets that will be closed are among the 364 stores directly owned and run by the company. |
| It said it hoped to replace them with franchised stores "in the majority of locations". | It said it hoped to replace them with franchised stores "in the majority of locations". |
| Thorntons currently has 227 shops run by franchisees. | Thorntons currently has 227 shops run by franchisees. |
| Shares in the company were down 5% in London trading. | Shares in the company were down 5% in London trading. |
| 'Refocusing' | 'Refocusing' |
| The company added that it would continue to expand its commercial division, which sells Thornton-branded chocolate via supermarkets and other retailers. | The company added that it would continue to expand its commercial division, which sells Thornton-branded chocolate via supermarkets and other retailers. |
| In addition, it aims to continue to grow sales via its website. | In addition, it aims to continue to grow sales via its website. |
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| Thorntons also said it wanted its sales to become less dependent on seasonal events such as Easter and Christmas. | |
| To do this, it is introducing a new range of smaller chocolate gift products for birthday presents, anniversary gifts or thank you presents. | To do this, it is introducing a new range of smaller chocolate gift products for birthday presents, anniversary gifts or thank you presents. |
| Chief executive Jonathan Hart said: "Our goal is to refocus the business across all channels, and seek to deliver industry competitive results over the next three to five years. | Chief executive Jonathan Hart said: "Our goal is to refocus the business across all channels, and seek to deliver industry competitive results over the next three to five years. |
| "Although we see the prospect of weakness in High Street footfall and consumer sentiment continuing, I am confident that this strategy is right." | "Although we see the prospect of weakness in High Street footfall and consumer sentiment continuing, I am confident that this strategy is right." |
| Thorntons' warning of continuing weak trading comes as a number of retailers are struggling against a backdrop of lower consumer spending. | Thorntons' warning of continuing weak trading comes as a number of retailers are struggling against a backdrop of lower consumer spending. |
| Over the past week, fashion chain Jane Norman and home fittings company Homeform have both gone into administration. | Over the past week, fashion chain Jane Norman and home fittings company Homeform have both gone into administration. |
| In addition, Habitat announced that all but three of its UK stores had been put into administration. | In addition, Habitat announced that all but three of its UK stores had been put into administration. |
| The most recent official figures showed that UK retail sales fell 1.4% in May. | The most recent official figures showed that UK retail sales fell 1.4% in May. |