Clinton Cards is mulling closing its underperforming Irish stores as the greetings card retailer issued a profit warning this week.
Managing director Clinton Lewin said no decision had been made on any closures but added that âeverything is under reviewâ.
The retailer blamed its 13 Birthdays stores in Ireland for âweaker tradingâ that led to the profit warning, with Lewin saying that its stores have suffered in the âextremely badâ trading conditions in the country.
Clinton Cards said that since its last statement on May 13, revenue has been lagging 2% behind internal expectations. As a result, it now expects full-year group adjusted operating profit for continuing operations to be flat.
However, Clinton Cards said it continues to work with âsignificant headroomâ across all its banking covenants.
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