Card Factory sales up amid store expansion drive

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Card Factory update

An aggressive store expansion drive and increase in like-for-like sales has helped gift card retailer Card Factory deliver strong half-year results.

For the six months ending July 31, the high street chain posted like-for-like sales growth of 3.1 per cent and total reported sales growth of 6.1 per cent.

Card Factory also opened 34 new UK stores during the first half, bringing its total UK estate to 895 stores after a net increase of 30 stores.

The retailer also opened its first store in Ireland, and confirmed it has secured additional sites for more stores in the republic.

READ MORE:  Card Factory snaps up Edinburgh Woollen Mill‘s finance boss

Meanwhile, Card Factory is pushing ahead with plans to open another 20 UK stores in its second half.

“It is pleasing to report that the strong sales performance highlighted in our [first quarter] announcement has continued into the second quarter, delivering a very good first half both in terms of overall and like-for-like store sales,” chief executive Karen Hubbard said.

“Our store expansion programme remains on track and we are pleased with the performance of this year’s openings, including strong sales from the increased proportion of openings in retail parks.

“The board’s expectations for the full financial year remain unchanged and I look forward to providing a further update with our half year results next month (September).”

 

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