Greetings card and gifts retailer Card Factory has issued a statement in which it says that trading is ahead of expectations for the 11 months ended 31st December ’22. It generated sales of £432.6m against the £337.3m for the same period in 2021, due to customers returning to spend in its stores.
However, whilst like-for-like store sales grew by 7.1 per cent, online sales were badly impacted by Royal Mail worker strikes and were down by 27.6 per cent on a like-for-like basis.
During the period the business had introduced a Click & Collect trial which is now live in 85 of its stores. It had also commenced with the roll out of a new model store format and has ten of these stores trading. More are to follow this year.
Darcy Willson-Rymer, CEO said: “We’re pleased and encouraged by the continued strong performance of the business. With delivery of our growth strategy progressing well, it is great to see some of the benefits from this work starting to come through in our financial performance.”
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