Cardfactory counts the cost of weaker high street footfall
Cardfactory has reported a drop in full year profit, despite increased revenue, after softer high street footfall impacted the performance in its stores.
In the year to 31 January, adjusted pre-tax profit declined by 15.2% to £56 million although revenue climbed by 7.4% to £582.7 million.
Subscribe to TRBCardfactory said the year was one of strategic progress as it faced a more challenging consumer backdrop. Like-for-like store sales fell by 0.2% after higher average basket values were offset by fewer transactions, particularly in the peak Christmas trading period.
The company opened 27 net new stores in the year to take its total UK and Ireland footprint to 1,117 sites.
Darcy Willson-Rymer, chief executive officer of Cardfactory, said: “Despite a challenging consumer backdrop in FY26, we continued to execute our strategy to transform Cardfactory into a global celebrations group, underpinned by targeted investment and disciplined cost management.
“Softer high street footfall in the second half, particularly during our peak trading period, impacted full-year performance, with adjusted pre-tax profit being delivered in line with our revised guidance.
“The group remains highly cash generative, and our ‘Simplify & Scale’ efficiency and productivity programme will continue to help mitigate inflationary headwinds.”
Giving an update on more current trading, Cardfactory said sales in the first three months of its new financial year are in line with the same period in the prior year.
Willson-Rymer added: ” Looking ahead, as widely documented, the external environment remains uncertain.
“We have robust plans in place for FY27 to deliver further progress against our strategic priorities and medium-term ambitions.
“By remaining focused on developing our strong value and quality offer, we will continue to help our customers celebrate life’s moments.”
