Greeting cards and gift retailer Card Factory has released a trading update in which it says that it now expects to deliver adjusted Profit Before Tax for the full financial year between £55m and £60m.
The retailer said, “Over recent months, the pressures facing the UK consumer have been well publicised. It is an inescapable fact that these pressures have impacted consumer confidence and shopping behaviour, contributing to soft high street footfall. Those conditions have persisted as we moved into our most important trading period, leading to a UK store sales performance which is lower than our previous expectations.
On the assumption that current trading trends persist over the remaining seven weeks of our financial year, we now expect to deliver adjusted Profit Before Tax for the full financial year between £55m and £60m”.
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