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Hotel Chocolat Group PLC - Royston, Hertfordshire-based chocolatier - Says it has decided to cease US direct to customer sales via its website and exit its in-country warehousing and fulfilment support arrangements. The company adds that it continues to explore the future development of wholesale opportunities in the US market.
In July, Hotel Chocolat announced that investment levels in the US would be ‘materially reduced’, with ongoing investment limited to essential working capital only for online and wholesale. It also cautioned that it expects to register a loss for its financial year to June 26, 2022, swinging from a pretax profit of £7.8 million the year before.
Current stock price: 135.55 pence
12-month change: down 64%
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