THE RETAIL BULLETIN - The home of retail news
Lest we forget
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
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Card Factory sales growth impacted by softer footfall

Greeting cards retailer Card Factory has reported that like-for-like sales edged up 0.2% in the first half of its financial year as trade was boosted by ongoing strong growth in online sales on its new website.

GENERAL MERCHANDISE

Card Factory sales growth impacted by softer footfall

Greeting cards retailer Card Factory has reported that like-for-like sales edged up 0.2% in the first half of its financial year as trade was boosted by ongoing strong growth in online sales on its new website.

Excluding the website, like-for-like sales in stores were broadly flat at -0.1% in the six months to 31 July. As reported for the first quarter, consistently strong growth in average spend was offset by lower transaction numbers.

Meanwhile, total revenue increased by 4.8% in the period.

The company said it is confident of delivering full year underlying pre-tax profit of between of £80.9 million to £86.7 million, in line with analysts' expectations

During the first half, Card Factory opened 34 net new stores to bring the total estate to 848 stores at 31 July. The company said it remains on track to deliver approximately 50 net new stores in the current financial year with all expected to be open in time for the key Christmas season.

Year-on-year sales performance at gettingpersonal.co.uk was flat as improvements in average spend was offset by lower visitor numbers. Card Factory is aiming for like-for-like sales growth of at least 10% for the website and is currently investing in a number of business improvement initiatives for the site.

Karen Hubbard, Card Factory's chief executive, said: “As highlighted in our Q1 announcement, the retail environment in the first half has been challenging and, as widely reported, footfall patterns in the first half have generally been soft. Card Factory is not immune to these wider factors and our sales growth over the period was lower than our normal levels as a result.

"It is too early to assess the precise impact on overall consumer sentiment and retail footfall from the result of the EU referendum. However, we enter the second half with confidence in the quality and value of our offer, including our new Christmas range, and we will target improved sales growth in the second half.”

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

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 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
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019