Card Factory reports strong revenue growth
Greeting cards retailer Card Factory has reported that revenue rose by 8.1% in the 11 months to 31 December driven by a combination of a like-for-like sales increase, the opening of new stores and rapid growth in its online business.
Like-for-like store sales climbed by 1.8% during the period despite a strong comparable period last year. The retailer said the performance was partly a reflection of its investment in the adoption of local pricing strategies particularly in the final quarter.
Card Factory has opened a total of 51 net new stores in the current financial year to bring the total estate to 764 stores.
Richard Hayes, Card Factory’s chief executive, said: “With only a few days of our financial year remaining, it is pleasing to report that the group continues to perform well, has had a solid Christmas trading period, and is on course to deliver sales growth at a similar level to the previous year.
Never Miss a Retail Update!“The strength of our retail proposition is the key to our consistent performance and we are well placed to further improve our customer offer in the year ahead.
“This is underpinned by our established vertically integrated model which has been developed over the past decade with significant investment. As the clear market leader, we remain confident of our ability to achieve further profitable growth.”
