Hotel Chocolat expects to see sales jumps when limits become even easier
British chocolatier Hotel Chocolat has raised £40 million in its recent share placement as it looks to a new digitally based strategy.
– Advertising –
Hotel Chocolat believes it is the right time to raise funds as it is expected to make sales easier now.
The company recently released a trading update suggesting that profits through June 27th will exceed previous expectations.
This is the second time retailers have collected money from shareholders since the pandemic began. In 2020, just before the UK’s first nationwide lockdown, Hotel Chocolat confirmed its £20 million placement.
At that point, despite the potential recession, the purpose of the placement was to support the company’s growth strategy rather than preventing financial distress.
Since then, the growth of Hotel Chocolat has been born primarily through digital channels.
Hotel Chocolat’s stock price (LON:HOTC) fell 0.6% on Friday morning to 357.80p per share.
