Clinton Cards has reported like-for-like sales excluding VAT were 1.7% lower in the 13 weeks to May 13 than the same period the previous year.

The cards specialist said this has meant it has delivered a year to date like-for-like increase of 1.6%.

The retailer said it has continued to manage cash well, resulting in borrowings in the 13 week period of £8.5m compared to £19.6m in 2009, a reduction of 56.7%.

Clinton Cards said there has been no change to the board’s expectations of pre-tax profit for the full year.

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