Thorntons is a tale of woe today. They’ve just announced an 8.5% drop in half-yearly profits, where they blame the bad weather, discounting as a result of weak consumer confidence and problems with their supply chain. They talk of closing more stores and, at best, suggesting flat (i.e. no) year-on-year growth.
I’ve been having a think about the Thorntons business and wondering if this is the whole story.
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