// Hotel Chocolat Group sales dipped 8% in nine weeks to 25 December
// Like for like sales for its UK and Ireland stores surged 10% as shoppers flocked to the high street
Hotel Chocolat posted like-for-like revenue growth of 10% across its UK and Ireland stores in the nine weeks to 25 December.
As a result, the confectionery retailer plans to expand its retail footprint in London over the next three years.
The business has scope to open another 50 stores, chief executive Angus Thirlwell said.
“We have very obvious gaps in our portfolio and one of our appetites is to really improve our representation across London as rents have normalised.”
However, group sales, including its international arm dipped 8% over the key Christmas period despite a late festive surge in sales and total UK and Ireland sales fell 5% but this was still up 65% compared to pre-pandemic levels.
The retailer also recorded its strongest-ever sell-through of full-price seasonal products, with left over Christmas stock in January plummeting 80%.
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Online revenues were lower over the period due to a focus on customers returning to stores and a “deliberately lower marketing spend”.
The retailer said it expects to see short term reduction in international revenue whilst its new expansion in Japan takes effect.
The business added that it continues to trade in line with market expectations, although it remains cautious about consumer sentiment over the upcoming events of Valentine’s Day, Mother’s Day, Easter, Eid and Father’s Day.
Thirlwell said: “A late festive surge delivered sparkling store performances.
“We have grown Hotel Chocolat by 65% over the period since the start of the pandemic, adapting to some of the most difficult economic conditions on record.
“Taking a year, over FY23, to sharpen-up our operating model is the right thing to do, before we embark on further pursuit of the multiple growth opportunities ahead for our brand.”
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1 Comment. Leave new
Hotel Chocolate Exec’s disbanded the Security team before even getting a 3rd party security team in place. So at this time they don’t know if they have anyone that has hacked into their systems or where their data is or who has access.