Clinton Cards facing flat sales
Greetings retailer tackling downturn
Clinton Cards, the UK’ biggest greetings retailer, has confirmed that trading conditions on the high street continue to be tough.
At the company’s annual meeting, chairman Don Lewin, said that like-for-like sales in the core Clinton stores have been flat across the first 16 weeks of the current financial year, confirming the trend reported at the time of the company’s results announcement.
In the Birthdays chain, acquired last year, like-for-likes are down 2.3 per cent, although on an improving trend.
Lewin said: “Actions and initiatives are already underway taking the Birthdays business forward including re-stocking and refurbishing the Birthdays stores, which commenced earlier in the year and will be rolled out over the next few months.
“As part of the review of the two businesses, we have so far disposed of 15 stores with a further 30 disposals contracted for across both brands. I shall report on further progress made in Birthdays in our interim statement in September.
“As highlighted in the preliminary results announcement and in line with other retailers, we are finding that trading on the high street continues to be challenging. However we shall continue to work hard to meet the demands of our customers whilst also undertaking the challenge of returning Birthdays to profitability.”
