Hotel Chocolat sales rise 11% amid costs increases
British chocolatier Hotel Chocolat has reported an 11% increase in sales compared to the prior year, in the 13 weeks ending 29 December 2019.
The chocolate retailer also reported a 14% increase in revenues for the six months to 29 December.
During this period, Hotel Chocolat opened nine new sites across the UK, ending in 125 locations. It also opened two new US sites alongside three new joint-venture locations in Japan.
The new openings also contributed 3% of the 14% total group revenue growth.
The retailer said since December sales continued to be in line with management expectations through “the cost to deliver this growth was modestly higher due to inefficiencies in the supply chain which are being addressed in 2020.”
Co-founder and CEO, Angus Thirwell said: “While much of 2019 was about getting started in these large new markets, 2020 will see us accelerate our supply-chain transformation. This focus will rebalance us from being a UK-based company operating from owned channels, to one more suitable for multi-channel multi-territory international supply.”
Last year, the retailer reported a 14% increase in revenues to £132.5m for the year ending 30 June 2019.
Profit before tax grew by 11% to £14.1m during the period, and the group results included £0.5m of sales and £1.2m of losses relating to new investments in locations in the USA, which it said “performed” in line with its business plan. Excluding the USA, group sales grew by 13% and profit before tax grew by 19%.
