Member Article

Card Factory reports a steady increase in sales following new store openings

Card Factory reports an increase in total Group sales of 8.9% in the first six months of the financial year, with like-for-like store sales growing by 2.6% compared to 3.3% last year.

In this period,the Group opened 36 net new stores, bringing the total estate to 749 stores. The Group plans to open approximately 50 net new stores in the current financial year.

Profit before tax for this period lies at £3.7 million, compared to £30.1 million for the last financial year as whole.

Cash generation of the Group is typically stronger in the second half of the financial year.

Richard Hayes, Card Factory’s CEO said: “The Group continued to trade well in the first half of the current financial year with good growth coming from the existing store estate and new store roll out programme, as well as from our smaller but developing online proposition.

“We remain confident of the Group’s ability to continue to grow market share for the foreseeable future and look forward to updating investors further in September.”

This was posted in Bdaily's Members' News section by Ellen Forster .