Sales up for Card Factory despite ‘challenging consumer environment’

Sales up for Card Factory despite ‘challenging consumer environment’
Credit: Shutterstock.com/ ValeStock

A challenging high street trading environment hasn’t been enough to dampen the fortunes of Card Factory, the Wakefield-headquartered seller of greetings cards and gifts.

Total group sales were up 5.5% for the six months to 31 July 2019, while like for like sales were up 1.2%, according to a trading update released this week.

The company said the marginal rise represented a “robust sales performance in a challenging consumer environment”.

During this period, the company expanded its store network with the addition of 26 net new stories opened across the UK.

It remains “on track” for its target of 50 net new stories across the UK ad Republic and Ireland for the full year.

“Looking forward to the forthcoming key Q4 trading period, which will have a significant impact on the outturn for the full year, we believe we have the right ranges and products to deliver a good performance; although, we are cognisant of the economic and political uncertainty and weaker consumer confidence,” said CEO Karen Hubbard.

“The Board anticipates profits for the full year to be broadly in line with its previous expectations.”