Hotel Chocolat boss fears Britons will reject company’s expensive treats for Easter and Mother’s Day over cost-of-living crisis
The boss of Hotel Chocolat said the retailer is cautious about customer sentiment ahead of Easter and Mother’s Day because of the rising cost of living.
The premium chocolate business revealed that sales were lower in the past half year, while profitability also declined, which was the cause of lower international and wholesale revenues.
Angus Thirlwell, the company’s co-founder and chief executive officer, praised the recent trade at its stores, but he also highlighted the continued pressure on consumers.
Cautious: Hotel Chocolat boss Angus Thirlwell praised the recent trade in his stores, but stressed the continued pressure on consumers
“We remain cautious about consumer confidence over the upcoming seasonal events of Mother’s Day, Easter, Eid and Father’s Day,” he said.
The company revealed that its total revenues fell to £129.8 million in the last six months of 2022, compared to £142.9 million a year earlier.
Profit fell from £25.4m in the same period last year to £10.2m.