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Paperchase could push into US following demand for fashionable greeting cards

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Paperchase has posted an 11.2% rise in sales for the five weeks to 27 December, driven by a surge in demand for Christmas greeting cards, of which the specialist retailer sold 9m.

Total sales rose £30m and UK like-for-like sales were up by 5.9% during the period.

“Reports of the death of Christmas cards are grossly exaggerated”, Chief Exec Timothy Melgund, said. “There is an anti-technology theme playing its part, cards are retro and people can personalise them to convey the right message. You can show you care so much more with a card than an email.”

An upbeat Christmas is crucial for the retailer as Paperchase makes 20% of its sales for the entire year in the five week period.

The drive has helped UK sales for the 47 weeks to 27 December to increase by 11.4% to £122.9m, while UK like-for-like sales were up by 4.7% in its year to date.

Paperchase currently provides US home office suppliers Target and Staples with private-label greeting cards but Melgund told The Telegraph that the company is considering opening standalone stores in North America this year. It ended 2015 opening its 200th outlet and will forge ahead with European expansion plans.

UK online sales at the greeting cards and stationery chain delivered results “beyond market norms”, up 32.9%.

Last year the chain launched its own loyalty scheme ‘Treat Me’ and attracted almost 1m members in the first six months. In a statement, Melgund attributed this to a mix of “unique designs at affordable prices”.

 

Published on Monday 18 January by Veebs Sabharwal

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