Card Factory's like-for-likes up 2.7% in first half
Greeting cards retailer Card Factory saw its like-for-like store sales grow by 2.7% in the first half of its financial year.
In the six months to 31 July, total sales climbed by 8%.
In a trading update Card Factory said its new store opening programme was continuing as expected with 36 net new stores opened in the first half. This brought the total estate to 800 stores at the end of the period as the company looks to deliver approximately 50 net new stores in the current financial year.
Card Factory said its principal online business, Getting Personal, continues to perform well, although it will face more challenging comparative figures in the second half of the year.
The company relaunched its Card Factory transactional website in the period and expects to develop a number of options open to us to grow this channel’s revenues over the medium term from its current small base.
Richard Hayes, Card Factory’s chief executive, said: “It is pleasing to report that the group traded well in the first half of the current financial year with good growth continuing from the existing store estate and new store roll out programme, as well as our developing online proposition. We were delighted to open our 800th Card Factory store in Reading, and to relaunch an enhanced transactional Card Factory website.
“We remain confident of our ability to continue to increase market share whilst delivering on all four pillars of our growth strategy.”
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