Card Factory continues omni-channel transformation following 77% pre-tax profit boost

Greetings card retailer Card Factory has confirmed that its move to an omni-channel model is underway.

In its interim results for the six months ending July 31, the brand saw its pre-tax profit rise by 77 per cent.

The firm saw revenue in the period grow by 16.3 per cent, with its online channels performing “well” alongside its reopened physical stores.

Darcy Willson-Rymer, chief executive officer, commented: “Since joining the Group one of my priorities has been to review the business and its growth strategy. Having recently completed that process, I remain extremely excited about the opportunities available to Card Factory.

“The delivery of the growth strategy set out in July 2020 - and the broader retail environment itself - has obviously been impacted by Covid-19. However, it is clear that the right way forward is to transition Card Factory from being a store-led card retailer into a market leading, omni-channel retailer of cards and gifts.

“Whilst cards will remain the largest part of our business in terms of total contribution, we will substantially increase our focus on the complementary gifting and party markets, enhancing our customer offer and significantly increasing the size of our addressable market.

He added: “Although there remains some uncertainty about the speed of the post-pandemic market recovery in the short term, I firmly believe in both the resilience of the card and gifting markets and the fact that the majority of customer spend will remain in stores for the years to come.

“We look forward to successfully executing our strategy to transition Card Factory into a market leading omni-channel retailer of cards and gifts, delivering sustainable revenue and profit growth and driving value for all our stakeholders.”