Positive momentum at Card Factory as sales climb

Wakefield-headquartered greetings cards and gifts retailer, Card Factory, says its full year adjusted pre-tax profits are expected to be at the top of the range of market expectations of £58.4m to £62m.

In a trading update for the 11 months ended 31 December 2023, the business adds it achieved total sales of £476.9m (prior year of £432.6m), an increase of 10.2% year-on-year.

It notes this reflected continued positive momentum across the business and the effective execution of its strategy.

Darcy Willson-Rymer, chief executive officer, said: “We are pleased to have delivered a strong performance over the Christmas period, further demonstrating the progress we are making on our strategic growth initiatives.

“Our value and quality proposition continues to resonate with customers at a time when value for money is as important as ever.

“Even during challenging times, consumers want to celebrate key life moments and this was reflected in the positive performance we saw in the Christmas trading period and throughout the year to date.”

Highlighting the strong Christmas trading period, Card Factory says like-for-like store revenue was up 7.8% in November and December.

It states that an expanded gift offer and introduction of key licensed ranges, alongside the expansion of own label goods, were well received by customers.