Celebrations for Card Factory with in-store sales ‘exceeding expectations’
Greetings card specialist Card Factory has reported store sales ‘exceeding initial expectations’ after reopening.
Card Factory, which saw its stores close as a result of the COVID-19 pandemic and subsequent lockdown, has seen like-for-like sales since reopening down 21.6 per cent - compared to an anticipated 50 per cent reduction in the first month of reopening.
In addition, the company’s average in-store spend has increased by 24.9 per cent, helping to offset the lower number of transactions as a result of reduced footfall.
The Wakefield-based firm has also seen its online like-for-like sales increase by 68.9 per cent for the current financial year to 19 July 2020, with online sales up 120.7 per cent during the period of store closures.
In a statement today, Card Factory commented: “The board is pleased with the trading performance since stores have reopened.
“However, it is far too soon to determine whether initial trading reflects the release of pent-up demand following lockdown or the point at which consumer footfall and sales (both transactions and average spend) will settle to a sustainable level.”
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