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The company said that a fall in footfall on the high street and a unseasonal weather since its latest statement on 10 December meant that annual profits could miss the target of £420m by as much as 10%.
The fall in footfall has harmed sales.
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This was the first time all three types of shopping destination did not record a drop in footfall since December 2011.
The Boxing Day sales also suffered, with a 12.6% year-on-year decline in footfall on the high street.
It also marked an improvement on the 1.3% decline in footfall in July.
Meanwhile, a separate report blamed bad weather for a 3.8% drop in footfall in Scots shops, compared to March 2012.
The gloomy data coincided with a British Retail Consortium survey that showed Britain's high streets had suffered the biggest fall in visitor numbers since November 2009, with footfall in April down more than 12% on last year.
He said the retailer would have to keep investing in services, such as petcare, to offset falling footfall in shops, especially in out-of-town retail parks.
This was the festival's seventh year, and might count as the first in which attendance did not double (before torrential rain swept fell on its closing day, an organiser had predicted a robust 22% increase in footfall).
The only increase in footfall during daytime trading hours was in retail parks, where it rose 0.4%.
Beyond a desired "increase" in footfall, Mr Thornton would not be drawn on any specific figures.
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