Gifts Today magazine

Revenue up for Card Factory

Card Factory, the UK’s leading specialist retailer of greeting cards, dressings and gifts, has increased its revenue by 7½ per cent in the three months ended 30 April 2015.

Like-for-like store sales growth continues to track in the range targeted by management highlighting the consistency of the Card Factory vertically integrated model, the strength of its market leading position and the robustness of the market in which it operates.

The company continued to operate selective pricing strategies in certain locations during the period. In line with the practice adopted since IPO in May 2014, data on like-for-like sales performance will be disclosed with half year and full year results.

Card Factory’s new store opening programme continues as expected. In the first quarter they opened 19 net new stores (Q1 FY15: 22) across a wide range of demographic locations, bringing the total estate to 783 stores as at 30 April 2015. It remains on track to deliver approximately 50 net new stores in the current financial year.

Richard Hayes, Card Factory’s Chief Executive Officer, said: “Following on from our record performance last year, we have had a positive start to our new financial year, with consistently strong revenue growth and cash generation and I remain confident that the Group will achieve the Board's expectations for the full financial year. Our value retail proposition, built on our long-established vertically integrated model, remains highly differentiated, extremely difficult to replicate and, importantly, very attractive to the customer.

“We are also pleased to have further developed our online proposition through the launch of a new Card Factory website, which we are sure will be well received by our customers who will benefit from its enhanced functionality and access to a greater product range.”

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