Hotel Chocolat has posted a drop in half year sales and profit following a significant deterioration in international sales.
In the 26 weeks to 25 December, group revenue declined to £129.8 million from £142.9 million while underlying pre-tax profit fell to £10.2 million from £25.4 million a year earlier.
Revenue in the UK and Ireland dropped by 5% in the period, but sales in Japan, the US and St Lucia fell by 90%, 94% and 48% respectively.
While stores performed well in the period, online revenues were lower year-on-year due to more customer returning to physical shops and a strategically lower marketing spend.
Hotel Chocolat has previously announced that it will be taking time this year to sharpen its operating model before embarking on the next stage of growth.
The company now sees scope for a further 50 Hotel Chocolat stores over the next three to five years with the first tranche planned for this autumn. It said its new ‘store of the future’ design has been successful in test locations.
