Brief: Hotel Chocolat says UK store sales up 10% in Christmas trading period

Hotel Chocolat

19/01/2023 07:10

Jan 19 (Reuters) - Hotel Chocolat Group Plc  HOTC.L :
    * HOTEL CHOCOLAT GROUP  - TRADING UPDATE FOR 9-WEEK PERIOD
ENDING
25 DECEMBER 2022:
    * UK RETAIL LIKE-FOR-LIKE STORE SALES INCREASED +10% YOY
    * GROUP TOTAL SALES INCLUDING INTERNATIONAL FELL -8% YOY
    * FOR 26-WEEK HALF YEAR, ENDING 25 DECEMBER 2022 ("H1"): UK
RETAIL
LIKE-FOR-LIKE SALES INCREASED +7% TO £74M, AND INCREASED +25%
LIKE-FOR-LIKE VERSUS PRE-COVID H1 FY19
    * GROUP TOTAL SALES INCLUDING INTERNATIONAL FELL -9% YOY TO
£130M,
AN INCREASE OF +65% VERSUS PRE-COVID H1 FY19
    * 'QUALITY OVER QUANTITY' CONTINUES TO BE OUR FOCUS, WITH
FY23
PREVIOUSLY INDICATED TO BE A TRANSITION YEAR TOWARDS AN IMPROVED
BUSINESS SHAPE FROM FY24 ONWARDS, WITH GOAL OF 20% EBITDA MARGIN
IN FY25
    * GROUP CONTINUES TO TRADE IN LINE WITH MARKET EXPECTATIONS
THOUGH
WE REMAIN CAUTIOUS ABOUT CONSUMER SENTIMENT OVER UPCOMING
SEASONAL EVENTS OF VALENTINE'S DAY, MOTHER'S DAY, EASTER, EID
AND FATHER'S DAY.
    * WE EXPECT TREND OF CUSTOMERS REVERTING TO STORES TO SHOP
TO
CONTINUE IN SECOND HALF, WHICH IS ADVANTAGEOUS TO BRAND BECAUSE
OUR STORES ARE WELL INVESTED TO DELIVER AN UPLIFTING EXPERIENCE
FOR CUSTOMERS

Further company coverage:  HOTC.L