Greetings card & small gifts retailer Clintons, which was acquired by Pillarbox Designs just over a year ago and which closed 38 stores during FY24, is looking to close further underperforming stores. It says that footfall has dropped and that the market is difficult currently with significant cost pressures, not least the increase in employers’ national insurance contributions. The business has revealed that it achieved a pre-tax profit of £8m for the year to June 2024, which is significant when compared with its £5.3m loss in the prior year.
The business, which underwent an insolvency process, now has 170 stores down from almost a 1000 when the market for greetings cards was much larger and had yet to be decimated by social media and the steeply rising cost of postage.
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