Thorntons issues warning to shareholders following drop in shares

Thorntons warns investors that annual profits will fall this year because of poor sales, blaming the decline on supermarket chains. Shares fell 25{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} when the London stock market opened, dropping 30p to 86p. Despite these problems, sales in Thorntons’ own shops and also in convenience stores have grown. The company has been revamping itself over the last three years and reviving profitability, mainly by closing unprofitable stores and increasing the volume of sales it generates via other stores. It currently runs 249 shops and plans to cut that number further to between 180 and 200. Shareholders will be given a further trading update in January. Source: BBC News