Card Factory sales rise despite “challenging” environment

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Card Factory Karen Hubbard trading update Brexit consumer confidence
Card Factory's first-half sales rise despite a "challenging consumer environment”
// Card Factory sales up 5.5% in the six months to July 31
// Like-for-like sales up 1.5%
// It now expects to meet full-year profit expectations

Card Factory has seen a rise in first half sales in a performance described as “robust in a challenging consumer environment”.

The gifts and cards retailer said it now expected to meet full-year profit expectations.

In the six months to July 31, group sales rose 5.5 per cent when like-for-like sales edged up 1.5 per cent.

In the period, Card Factory opened 26 new stores across the UK and said it was on track to open a further 50 stores across the UK and Ireland for the full year.

It also reported “encouraging progress on a number of business development and efficiency initiatives” such as selling through Aldi branches.

“Our quality and value proposition continues to resonate well with customers – reflected by the good performance of our seasonal ranges in the first half of the year,” Card Factory chief executive officer Karen Hubbard said.

“We continue to work hard at making sure we have the right ranges at the right prices for our customers, in the store and online.

“Alongside that, we remain focused on our important commercial and business efficiency initiatives – all of which will make Card Factory a much stronger business for the long term.”

She added: “We continue with the trials within Aldi and The Reject Shop in Australia, a further update will be given at our interims announcement in September.”

Card Factory said it has “the right ranges and products to deliver a good performance” in regards to the forthcoming fourth quarterly trading period.

However, it added that it remains aware of the impact of the economic and political uncertainty leading to a general decline in consumer confidence.

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