THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omnichannel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Card Factory trading ahead of expectations

Greeting cards retailer Card Factory has reported trading ahead of expectations after it benefited from customers’ continued return to the high street. Sales in the 11… View Article

GENERAL MERCHANDISE

Card Factory trading ahead of expectations

Greeting cards retailer Card Factory has reported trading ahead of expectations after it benefited from customers’ continued return to the high street.

Sales in the 11 months to 31 December rose to £432.6 million from £337.3 in the same period in the prior year.

Meanwhile store revenue grew by 7.1% on a like-for-like basis.

Card Factory said strong Christmas trading was driven by improvements in both store transactions and average basket values. Due to customers returning to high streets and Royal Mail holding strikes, online sales fell by 27.6% year-on-year, although cardfactory.co.uk sales remain 85.2% up on pre-pandemic levels three years ago.

The company’s board now expects EBITDA for the 12 months to 31 January 2023 to be at least £106 million. 

Darcy Willson-Rymer, chief executive of Card Factory, said: “We’re pleased and encouraged by the continued strong performance of the business.  With delivery of our growth strategy progressing well, it is great to see some of the benefits from this work starting to come through in our financial performance. “

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News