Card Factory sees like-for-like sales boost at half way mark

Card Factory, headquartered in Wakefield, continues to enjoy a successful 2015 after providing a financial update for the half year mark, ending on 31 July 2015.

When announcing the trading update for the last six months, the greeting card chain reported a 8% increase in revenue, which was achieved by a combination of like-for-like sales growth, new store roll out and further growth in online activities.

In the first six months, like-for-like store sales grew by 2.7%, which follows the opening of 36 brand new stores, and significant growth of Getting Personal - the company’s online division.

At this time, the card chain operates out of 800 stores and is set to open 50 new stores by the end of the current financial year.

Furthermore, Card Factory reported a net debt of £109m, which is significantly lower than the total reported at 31 July 2014: £146.7m.

Richard Hayes, Card Factory’s Chief Executive Officer, 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.”