Success story continues at Card Factory

CARD FACTORY has maintained its long-term growth through the first half of its financial year, which saw the retailer open its 800th store.

The Wakefield-based retailer was founded in 1997 and floated on the stock exchange in May 2014, which valued the company at £740m. Its value has since increased by nearly £500m as its share price has steadily climbed from 225p to last night’s close of 367p.

In an update to the stock market, it continued its upbeat message of on-target progress.

“We remain confident of our ability to continue to increase market share whilst delivering on all four pillars of our growth strategy,” said Card Factory’s chief executive Richard Hayes.

The four pillars are like-for-like sales growth, expanding its stores, delivering business efficiencies and developing online sales channels.

Sales grew 8.0% during the six months to July, slightly slower than a year earlier, but its like-for-like sales increase of 2.7% was marginally ahead.

Card Factory increased its number of stores by 36, to break through 800, and says it is on track to meet its target of opening 50 by the year end.

Its has relaunched its sales website while it said its main online business, gettingpersonal.co.uk, “continues to perform well”.

Mr Hayes added: “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.”