Card Factory has slashed expectations for the year to come and its financial year ending January 2021 following a “softer than anticipated Christmas trading period”.
The card specialist’s group revenue like for likes dipped 0.6% during the 11 months to December 31. However, total revenue for the period increased 3.6% despite the “challenging” Christmas period.
Card Factory now expects full-year underlying adjusted EBITDA to be in the range of £81m to £83m, reflecting the “softer than anticipated Christmas trading period”.
The card retailer said “adverse external factors” such as declining high street footfall and depressed sterling valuation and wage increases have affected its performance for a number of years.
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