Card Factory hails robust performance
Card Factory is anticipating that full year profits will be broadly in line with expectations after like-for-like sales edged up 1.5% in the six months to 31 July.
Total group sales rose by 5.5%.
The greeting cards retailer said it put in a robust performance despite a challenging consumer environment. It enjoyed strong trading its first quarter following the success of its Valentine’s Day and Mother’s Day ranges. However, its second half performance was a little weaker due to lower footfall in the period.
Card Factory opened 26 net new stores in the UK in the first half and said it is on track to have 50 new stores operational in the full year. Its opening programme in the second half of the year will include stores in retail parks and more shops in the Republic of Ireland.
Karen Hubbard, Card Factory’s chief executive, said: “We continue to work hard at making sure we have the right ranges at the right prices for our customers, in the store and online. Alongside that, we remain focused on our important commercial and business efficiency initiatives – all of which will make Card Factory a much stronger business for the long term.”
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