Card Factory reports softer sales growth
Greeting cards retailer Card Factory increased its total sales by 4.4% in the nine months to 31 October compared to a 7.9% rise in the same period in the prior year.
In a statement, the company said sales patterns in the second half to date have varied but there has been an improvement in sales of everyday card ranges since the start of October.
Karen Hubbard, Card Factory’s chief executive, said: “The general retail environment has remained challenging with adverse footfall trends impacting customer traffic into our stores. We remain wary of the uncertain outlook for consumer confidence, although we are pleased to note that, since the start of October, weekly sales patterns for everyday ranges in our stores have started to improve.”
The company said it remains on track to deliver approximately 50 net new stores in the current financial year.
