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Primary Recommendation

Thorntons - Now supplies all six grocers

September 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • THT
  • Price:
  • 75.5p
Investors have learned to fight shy of specialty or concept retailers, which have shops that only sell one thing; Whittards of Chelsea, Tie Rack and Sock Shop are just three of the names that disappointed and have now disappeared into the mists of time. But Thorntons, which operates a chain of chocolate shops, is a very different beast because the business is both a manufacturer and a retailer, earning separate margins on both aspects.The company is eager that investors should recognise the strength of the Thorntons brand and it has been moving towards expanding its manufacturing margin but reducing its retail margin by selling its chocolates into the supermarkets. As chief executive Jonathan Hart puts it “pound for pound, o ...

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