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Card Factory like-for-like store sales up 2.8%

Tuesday January 26th 2016

Greeting cards retailer Card Factory grew its like-for-like store sales by 2.8% in the 11 months to 31 December. Total sales climbed by 8.1% in the period.

The retailer said the like-for-like sales growth was boosted by a strong increase in sales of non-card products, which continued throughout the Christmas trading period.

Some 50 net new stores were opened in the 11 months to bring the total estate to 814 stores at 31 December 2015. The retailer said it is confident that it can continue its historic opening rate of approximately 50 net new stores per annum.

Card Factory’s principal online business, Getting Personal, continued to achieve the targeted double digit revenue growth in the second half. As highlighted in the retailer’s interim results, the strong growth was, as expected, at a lower level than the 24.9% revenue growth achieved in the first half given the much tougher comparative in the second half of last year when turnover increased by 27.1%.

The retailer said its trial of its relaunched Card Factory transactional website is progressing well.

Richard Hayes, Card Factory chief executive, added: “As we approach the end of our financial year, it is pleasing to report that the Group has continued to perform well through the important and competitive Christmas trading period.

“We remain on course to deliver sales growth at a similar level to last year, highlighting once again the strength and consistency of our retail proposition and performance, underpinned as ever by our unique vertically integrated model.”