Hotel chocolate 'on front foot again' amid strong sales at new UK stores

Wednesday, October 18, 2023

The chief executive of Hotel Chocolat said the company is on the "front foot" amid strong trade in its UK stores ahead of Christmas

Hotel Chocolat is back in the game after a record-high level of turnover from the chocolate retailer's new stores in the UK, the firm's bosses say.

In its latest update, the company recorded a loss and revenue decline during its full-year to July, but struck an optimistic tone among shareholders.

Hotel Chocolat said there had been "significant progress" in its performance enhancement strategy and praised its strong trading in recent stores.

Sales of its UK businesses grew 14% in the 13 weeks to October 2, with a similar rise of 13%.

Within the 12 planned openings in July, Hotel Chocolat has opened four new stores over the summer and insists the latest stores "outperforming expectations"

Hotel Chocolat also said that it had seen a "strong" improvement in profit margins because of lower discount and price rises.

"Hotel Chocolat is on the front foot again. The hard, foundational work we put in last year is now starting to deliver the results for us." - Angus Thirlwell

Restructuring efforts since last year also contributed to a decrease in expenses compared to last year.