Card Factory trading “materially ahead” of expectations
Greeting cards retailer Card Factory has reported strong trading in the first six months of its financial year despite an uncertain microeconomic backdrop.
In a release, the retailer said that trading to 31 July was materially ahead of what its board expected.
Card Factory stated: “The macro backdrop continues to be uncertain, and there is still much to be delivered over the remainder of the year. Nevertheless, given the strength of the performance in the first half, together with our current outlook for the second half, the board now expects the full year outturn to be materially ahead of its previous expectations.”
In May, Card Factory reported that revenue for the year to 31 January increased by 27.1% to £463.4 million after it benefited from customers returning to its stores post-pandemic. Pre-tax profit was also up significantly, climbing to £52.4 million from £11.1 million a year earlier.
