The Card Factory and Matalan brands have expanded their initial tie-up, with the former set to open concessions inside the latter’s stores. The announcement came even as Card Factory reported a strong rise in profits and sales for its fiscal first half.
Card Factory said it will roll out concessions inside all 223 Matalan stores in the UK before the end of the year. The move is a significant step up from the initial deal, which saw Card Factory’s card ranges and gifting essentials being stocked at just 22 Matalan outlets.
Separately, Card Factory said its pre-tax profits for the six months to 31 July 2023 surged up 72.7% to £24.7m, while sales grew by 11.5% to £220.8m, with like-for-like sales up 10.5%.
The company said the growth was helped by “continued good momentum across the business, particularly in the core stores business”. However, online LFL sales were down 13.1%, which the company attributed to the “continued rebalancing of online/offline retail sales across the sector”.
