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Card Factory hails strong Christmas trading performance

Card Factory has delivered a strong Christmas trading performance with like-for-like store revenue climbing by 7.8% in November and December.   The greeting cards retailer said the… View Article

GENERAL MERCHANDISE NEWS

Card Factory hails strong Christmas trading performance

Card Factory has delivered a strong Christmas trading performance with like-for-like store revenue climbing by 7.8% in November and December.  

The greeting cards retailer said the performance was driven by an increase in the number of transactions and average basket value.

Its online business also performed well with double-digit like-for-like sales growth across the two months.

The performance in the quarter meant that total sales for the 11 months to 31 December grew by 10.2% year-on-year to £476.9 million.

Darcy Willson-Rymer, chief executive of Card Factory, said: “We are pleased to have delivered a strong performance over the Christmas period, further demonstrating the progress we are making on our strategic growth initiatives.

“Even during challenging times, consumers want to celebrate key life moments and this was reflected in the positive performance that we saw in the Christmas trading period and throughout the year to date.”

As a result of its performance in the financial year to date, Card Factory expects to deliver full year adjusted pre-tax profit (excluding one off items) at the top end of market expectations of between £58.4 million and £62 million..

Willson-Rymer added: “As we look ahead, we remain focused on delivering against our growth strategy by helping our customers to affordably celebrate all life’s moments.”

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