Card Factory has posted revenues of £196 million for the six months to 31st July, which is up from £185.3 million for the previous period. However pre-tax profits had fallen from £28.4 million to £24.3 million. Overall like-for-like sales grew by 1.5 per cent with 26 new stores coming on stream to support revenue growth.
The business had successfully trialled with Aldi across 130 of its stores and will now supply half of its UK stores from November 2019 and, in addition, it announced a new partnership with Australian chain ‘The Reject Shop’ which will see it supply all 360 Reject Shop stores from January 2020. Branded concessions are also being trialled within 15 Matalan branches.
CEO Karen Hubbard said: “We have delivered a satisfactory sales performance in the first half of the year. A strong seasonal performance, which saw another year of record sales for both Valentine’s Day and Mother’s Day, was achieved against the backdrop of an increasingly challenging UK high street environment and consequent weaker footfall.”
“We are pleased with the progress made on the strategic initiatives that are underway. These include using consumer insight to develop our customer proposition across all channels and a number of commercial partnerships.”
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