Thorntons

Thorntons Ltd
Limited company
Founded Sheffield, West Riding of Yorkshire, England (1911)
Founder Joseph William Thornton
Headquarters Alfreton, England
Number of locations
 Decrease 228 (plus 186 franchise shops)[1]
Key people
 Barry Bloomer(Chief Executive)
Revenue Decrease £191 million (2016)
Decrease - £16.8 million (2016)
Decrease - £30.8 million (2016)
Owner Ferrero
Number of employees
 Decrease3130[2]
Website www.thorntons.co.uk

Thorntons is a British chocolate brand established by Joseph William Thornton in 1911. Thorntons Limited has been owned by Italian company Ferrero SpA since 2015.[3] Net income in its annual report of 2016 was reported at a loss of - £30.8 million with a drop in staff and number of shops across the UK. When Cadburys became part of a non-confectionery specific group, Thorntons became the largest confectionery-only parent corporation in the United Kingdom; while it retains a minority of sales of its established toffee and fudge, the group shifted its specialism, after post-war rationing ended, into chocolate and developed wide Continental, Swiss and Belgian chocolate ranges which (alongside novelties and decoration) form the bulk its sales.[1][4] It is listed on the London Stock Exchange and is a constituent of the FTSE Fledgling Index. While cutting back on its high street presence, sales and production have increased and a small minority of its shops have started afresh or diversified to become cafés.[1] In June 2015 Thorntons was bought by Ferrero SpA for £112m.[3] Thorntons changed their trading name from Thorntons PLC to Thorntons Ltd in Nov 2016 and now their registered office is Ferrero UK Ltd in Greenford, UK.

The Thornton family

This outlet plays on the brand's long history by being unusually housed in a former tram shelter in Gunwharf Quays, Portsmouth, Hampshire.

Thorntons began in Sheffield in 1911; a business started by Joseph William Thornton who opened the company’s first shop at 159 Norfolk St in Sheffield with Peter’s father Norman Thornton as the manager at the age of 15.[5]

Locations

#CityCounty
1 Peterhead Aberdeenshire
2 Inverurie
3 Fraserburgh
4 Aberdeen
5 Dunoon Argyll and Bute
6 Irvine Ayrshire
7 Ayr
8 Luton Bedfordshire
9 Bedford
10 Reading Berkshire
11 Hungerford
12 Fishponds Bristol
13 Bristol City
14 Cribbs Causeway
15 Milton Keynes Buckinghamshire
16 High Wycombe
17 Peterborough Cambridgeshire
18 Cambridge
19 Carmarthen Carmarthenshire
20 Cardigan Ceredigion
21 Guernsey Channel Islands
22 Warrington Cheshire
23 Sandbach
24 Widnes
25 Nantwich
26 Ellesmere Port
27 Chester

2000s – trading difficulties

Following a period of rapid expansion the 2009 results showed turnover increasing to £214.8 million, but operating profit decreasing to £7.94 million. There is still a significant impact of seasonality on the sales demand and a number of strategies have been undertaken to attempt to address this issue – however, 35% of sales are still in the seven-week period before Christmas and a further 10% before Easter. The impact of this on both manufacturing and service are significant, with temporary staff covering positions.[6]

In January 2011, Jonathon Hart joined the business as CEO.[7] Following a resultant strategic review in June 2011, Thorntons announced it would close between 120 and 180 of its shops.[8][9]

In June 2015 it was announced that Italian chocolate maker Ferrero would buy Thorntons for £112 million.[10] Thorntons Ltd are 75% owned by Ferholding Uk Ltd. Ferholding Uk Ltd is controlled by Giovanni Ferrero who holds over 50% voting rights.

On 17 February 2018, days after one of the biggest trading days of the year, Valentine's Day, Thornton's Cambridge shop closed down after over 25 years of operations.[11]

Publicity

Some advertising slogans:

"Chocolate Heaven Since 1911"[12]

"It's the Thorntons that counts"[13]

On 3 April 2007, Thorntons set up what is thought to be the world's first edible billboard. The 14.5 ft by 9.5 ft (4.4 m by 2.9 m) and 390 kg (860 lb) sign was erected outside their Covent Garden, London shop, and was eaten within 3 hours.[14] The structure included 10 chocolate bunnies, 72 giant chocolate eggs and 128 chocolate panels, each weighing 2 kg. The publicity stunt was decided following poor Christmas 2006 sales.

See also

References

  1. 1 2 3 Official Filed Annual Report for the 52 weeks to 29 June Thorntons plc
  2. ↑ Official Filed Annual Report for the 53 weeks to 27 Aug 2016 Thorntons Ltd
  3. 1 2 Sarah Butler. "Thorntons bought by Ferrero for £112m". the Guardian.
  4. ↑ Clark, Andrew (7 May 2011). "Thorntons: why the chocolate-maker has gone into meltdown". The Observer. The Guardian (theguardian.com). Retrieved 11 July 2015.
  5. ↑ "Thorntons – My Life in the Family Business | Tomahawk Press". tomahawkpress.com. Retrieved 2017-08-17.
  6. ↑ "Thorntons Annual Return 2009". Retrieved 17 Aug 2017.
  7. ↑ "Appointment of Director, Jonathan Duncan Hart". Retrieved 17 Aug 2017.
  8. ↑ Danaher, Tim (28 June 2011). "Thorntons to slash number of company-owned stores". Retail Week (retail-week.com).
  9. ↑ "Thorntons PLC" (Strategy Review). 28 June 2011. FE Investegate (investegate.co.uk). "for Private Investors only".
  10. ↑ Farrell, Sean (22 June 2015). "Thorntons bought by Ferrero for £112m". The Guardian. Retrieved 22 June 2015.
  11. ↑ Rabbett, Abigail (2018-01-22). "This Cambridge chocolate shop is closing down". cambridgenews. Retrieved 2018-02-18.
  12. ↑ "Chocolate Heaven Since 1911". Retrieved 17 Aug 2017.
  13. ↑ "Bringing sweet news to Thorntons". Retrieved 17 Aug 2017.
  14. ↑ Shoppers eat chocolate billboard BBC News, 3 April 2007
Citations
  • The Strategy Report of Thorntons plc, Birmingham Business School, 2007
  • Thorntons, My Life in the Family Business by Peter Thornton, Published by Tomahawk Press, October 2009 ISBN 978-0-9557670-3-6 www.tomahawkpress.com
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