Hotel Chocolat to meet profit expectations as sales rise
Hotel Chocolat has reported sales of £136m for the year ending 28 June 2020. This is up 3% year-on-year.
Lockdown affected the retailer’s key periods of Easter and Mother’s Day but the retailer announced that it had managed to shift a significant volume of these sales online. Online sales grew by more than 200% versus last year.
Hotel Chocolat said that sales in the 119 stores out of 125 that have been reopened were subdued, with city centre sites particularly weak due to the reduction in commuter and tourist traffic. It also said that its investment in ecommerce combined with the changes in consumer behaviour driven by COVID-19 means that the retailer is in a good position to grow online.