Card Factory sales and profits climb as stores perform strongly

Card Factory reported a revenue uplift of 10.3% to £510.9m in the year to January 31, when adjusted pre-tax profits were ahead 27% to £65.6m.

Sales at the retailer’s stores were up 8.7% in total and 7.7% like for like, “reflecting development of our store layout, customer experience and ranges, as well as annualisation of targeted price increases”. Sales through cardfactory.co.uk inched up 0.4% like for like.

Trading since the start of the new financial year has been in line with the retailer’s expectations. It said there has been ”continued positive momentum” in core categories, including cards and gifts, and there was “a record trading day” the Saturday before Mother’s Day.

Card Factory chief executive Darcy Willson-Rymer said: “I am delighted with the progress we have made through the year. Three years into our ‘Opening our New Future Strategy’, Card Factory 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.”