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Hotel Chocolat Group (HOTC)

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Down 425.00p
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Shoppers 'go wild' for peanut pralines as Hotel Chocolat opens NY store

11 Dec 18

LONDON (ShareCast) - (Sharecast News) - Premium chocolatier Hotel Chocolat has opened its first store in New York as it presses ahead with its expansion plans.
The company said shoppers at the store, which opened on Monday at 441 Lexington Avenue, "went wild" for its peanut pralines.

Chief executive Angus Thirlwell said: "As we evolve into international markets, our core 'More Cocoa, Less Sweet' mantra gains traction across the globe.

"This is a hugely exciting time to be at the helm of Hotel Chocolat, as the brand continues to grow and prove popular with locals in overseas markets, making more people happy through the power of chocolate."

Liberum, which rates the stock at 'buy', said that Hotel Chocolat's entry into the US and Japan, as well as the Scandinavia development agreement opens up a "huge opportunity" for the company.

"The combined chocolate markets of these territories are circa 4.6x the size of the UK," it noted.

"Growth in these regions average circa 3.5% compound annual growth rate (2017-22E) driven by demand for higher quality, healthier and more innovative product.

"The UK is also set for continued growth at circa 4% per annum," the brokerage said.

It pointed out that the shares have fallen 28% over the past six month, underperforming the FTSE 350 General Retailers.

"This offers a relatively more interesting entry opportunity into one of the most exciting structural branded growth stories," it said.

At 1255 GMT, the shares were down 1.3% to 276.26p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 425.00p
Change Today -5.00p
52 Week High 507.00p
52 Week Low 306.00p
Volume 16,558
Shares Issued 115.63m
Market Cap 491.41m


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Ex-Div 21-Nov-19 07-Mar-19
Paid 20-Dec-19 17-Apr-19
Amount 1.20p 0.60p