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Trading statements

Card Factory sales rise

15 November 2016 07:30

Card Factory reports total sales growth of 4.4% in the nine months to the end of October compared with growth of 7.9% in the corresponding period last year.

Key highlights:

- Continued store roll out with 46 net new stores opened (9 months ended 31 October 2015: 45)

- Confident of delivering another year of approximately 50 net new openings

- Good pipeline of new store opportunities building for next financial year

- Recent management changes at gettingpersonal.co.uk to drive sales and profit growth

- Board's expectations for full year profit before tax outturn unchanged

Chief executive Karen Hubbard said: "The general retail environment has remained challenging with adverse footfall trends impacting customer traffic into our stores. We remain wary of the uncertain outlook for consumer confidence, although we are pleased to note that, since the start of October, weekly sales patterns for everyday ranges in our stores have started to improve.

"We enter the important final quarter with an excellent Christmas offering, both in our card ranges and an expanded choice of seasonal gifts. Whilst it is always difficult to forecast short term footfall trends, we remain confident that the quality and value of our extensive range will continue to appeal to consumers."

Story provided by StockMarketWire.com

Related Company: CARD

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