Card Factory second half trading better than expected
Greeting cards retailer Card Factory has said trading g in the second half of its financial year to date has been better than expected, with its everyday range putting in a particularly strong performance.
In a statement, the company said trading has been boosted by its stores, which have seen year to date like-for-like sales rise by 6.2% on the previous year. It also revealed that its online business and commercial partnerships are performing in line with expectations.
Card Factory sales have been marginally ahead of expectations at the start of the important Christmas trading period. The company said all internationally sourced seasonal stocks have been landed in the UK, with a significant proportion already delivered to store.
As a result of trading to date, Card Factory is now forecasting that EBITDA for the year to 31 January 2023 will be at least £96 million versus the current consensus of £88.8 million. At this level, the EBITDA would approximate to pre-tax profit of £37.5 million.
The company will provide a post-Christmas trading update on 17 January 2023.
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