Type Public Role Company · thorntons.co.uk Revenue 221 million GBP (2013) Name Thorntons Thorntons | Founder Joseph William Thornton Traded as LSE: THT CEO Jonathan Hart | |
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Number of locations 249 (plus 186 franchise shops) Key people Paul Wilkinson (Chairman)Jonathan Hart(Chief Executive) Founded 1911, Sheffield, United Kingdom | ||
Number of employees just under 4000 Headquarters Alfreton, United Kingdom Net income 3.8 million GBP (2013) | ||
Discover continental with thorntons
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. 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. 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. In June 2015 Thorntons was bought by Ferrero SpA for £112m. 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.
Contents
- Discover continental with thorntons
- Thorntons chocolate
- The Thornton family
- 2000s trading difficulties
- Publicity
- References
Thorntons chocolate
The Thornton family
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.
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.
In January 2011, Jonathon Hart joined the business as CEO. Following a resultant strategic review in June 2011, Thorntons announced it would close between 120 and 180 of its shops.
In June 2015, it was announced that Italian chocolate maker Ferrero would buy Thorntons for £112 million. Thorntons Ltd are 75% owned by Ferholding Uk Ltd. Ferholding Uk Ltd is controlled by Giovanni Ferrero who holds over 50% voting rights.
Publicity
Some advertising slogans:
"Chocolate Heaven Since 1911"
"It's the Thorntons that counts"
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. 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.