// Card Factory online sales rise 267.5% during UK lockdown
// The retailer established a second fulfilment unit in Wakefield
// It is now preparing to reopen store operations
Card Factory has seen its online sales rise during the Covid-19 pandemic, and it is now working towards preparing store operations for a reopening post lockdown.
The greeting cards retailer’s online sales rocketed by 267.5 per cent since the beginning of the UK lockdown on March 23.
In response to this increased demand, and to support social distancing, Card Factory established a second fulfilment unit in Wakefield.
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The retailer’s stores remain closed with over 90 per cent of its workforce furloughed.
Card Factory said it has rescheduled seven new openings to next year, and in an effort to save cash it has decided not to pay a final dividend for its fiscal year 2020.
In preparation for reopening, Card Factory is working on changes to store operations to help ensure colleague and customer safety.
It expected to be able to facilitate appropriate social distancing in the majority of its stores.
Card Factory has an existing £200 million revolving credit facility in place and has received confirmation from the Bank of England that it will be able to access additional funding under the Covid Corporate Financing Facility.
The Card Factory Foundation has also established a relief fund for our colleagues who are experiencing financial hardship.