Card Factory quarterly sales up 6.4% amid “challenging environment”

Card Factory CCO
// Card Factory total group sales up 6.4% in Q1
// Like-for-like sales up 2.3%
// Getting Personal impacted by heavy discounting & increasing customer acquisition cost

Card Factory has posted mixed results in its first quarter trading update thanks to “a challenging consumer environment”.

For the three months ended April 30, total group sales grew 6.4 per cent while like-for-like sales rose 2.3 per cent.

Despite the sales rise, the gifts and cards retailer said this reflects the weakness in the comparative period.

Meanwhile, trading at Card Factory’s subsidiary Getting Personal continued to be impacted by a market environment of heavy discounting and increasing customer acquisition cost.

Card Factory opened 14 new stores in the quarterly period and reported a “strong cash generation”.

Its expectations for the full financial year remain unchanged.

“We have had a positive start to the year with like-for-like sales growth despite challenging consumer sentiment and negative footfall on the high street,” Card Factory chief executive Karen Hubbard said.

“We continue to improve the range and quality of card and non-card options.

“Our store opening programme remains on track and we are pleased with the performance of recent openings.

“Overall, Card Factory remains in a strong position, continuing to grow market share, with lessening cost headwinds and a platform for medium term growth.”

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