THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Card Factory blames weather for like-for-like sales decline

Card Factory saw its like-for-like sales edge down 0.2% in the first half of its financial year as the greeting cards retailer was impacted by a weak consumer environment and “extreme weather”.

GENERAL MERCHANDISE

Card Factory blames weather for like-for-like sales decline

In the six months to 31 July total group sales rose by 3.2%.

However, Card Factory said it now expects EBITDA for the full year to come in lower than previously thought at between £89 million and £91 million.

Karen Hubbard, Card Factory's chief executive, said: "We continue to experience a weak consumer environment, made all the more challenging by the impact of this year's extreme weather conditions on high street footfall.

"The performance of our seasonal ranges has been strong, with our best-ever Father's Day in terms of volume and value, although we recognise there has to be more focus on our everyday ranges, which have lagged the seasonal performance.”

During the period Card Factory added 25 net new stores to its UK network and is now on track for a target of around 50 openings for the full year. It also opened one new store in the Republic of Ireland, which means it now has a total of seven trial stores operating in the country.

The company said trading at its online Getting Personal business had been “challenging” as increased price competition and rising costs of customer acquisition affected trade, although its Card Factory website delivered strong growth.

Hubbard added: “Our key Q4 trading period will of course be critical in determining the final result for the year, but we believe we are well positioned to deliver a good performance in our important Christmas trading season."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing