“Reasonable” start follows record year for Card Factory

GREETINGS card retailer Card Factory has reported sales growth of 6.5%.

In the first quarter, the business opened 20 new branches, although Card Factory stores saw a reduction in footfall, though it says this was offset continuing growth in average spend.

Online sales grew 10%, but Karen Hubbard, Card Factory’s chief executive said: “Following our record performance last year, we have had a reasonable start to the year. Whilst not completely immune to the weaker consumer confidence seen in 2016, the market for greetings cards in the UK has proven highly resilient in the past and our unrivalled value offer will continue to appeal to a broad range of customers.

“We remain confident of making further progress this year as we continue to expand our store portfolio and further improve our in store and online proposition.

“Having now taken over as CEO following an extensive induction programme, I remain impressed by the quality of the business and excited by the opportunities that lie ahead.

“This growth is driven by a highly differentiated retail proposition that is, in turn, supported by a unique vertically integrated model. My task is to maintain this track record in the years ahead whilst looking to further improve what is clearly a highly successful business already.”