Card Factory has posted strong results, boosted by new openings and robust trading in its existing high street stores.
Pre-tax profits at the greetings card and gift retailer climbed 25.2% to £65.6m in the year to 31 January on revenue up 10.3% to £510.9m. The group stated that its performance reflected “continued positive momentum across the business and effective execution of our strategy”.
Store sales grew 7.7% on a like-for-like basis, benefitting from the development of its store layout, customer experience and ranges, as well as annualisation of targeted price increases.
Meanwhile, online like-for-likes edged up 0.4%, driven by improved performance in the second half of the year
Card Factory revealed that trading since the start of its new financial year had been in line with the expectations, with “continued positive momentum across card, gifts and celebration essentials”.
Chief Executive Darcy Willson-Rymer commented: “Now, three years into our ‘Opening our New Future Strategy’, Cardfactory is financially and operationally a much stronger business. This means that we are able to both reinstate the dividend and invest in the future, while effectively navigating the ongoing economic environment.
“We have confidence in our strong value and quality customer proposition, and remain on track for both this financial year and for achieving our FY27 targets outlined at our Capital Markets Day in May last year.”
