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Trading statements

Card Factory confident after good Christmas

26 January 2017 07:53

Card Factory expects full-year underlying pre-tax profits will be slightly ahead of market consensus after a good Christmas trading period and against a strong comparative.

The group said this was driven by a combination of like-for-like sales growth and new store roll out.

Year-to-date like-for-like store sales growth improved to 0.4% (11 months ended 31 December 2015: +2.8%).

Against a strong prior year comparative, Card Factory stores delivered a good Christmas trading performance with cumulative like-for-likes for the fourth quarter of the financial year returning to the historic range of 1% to 3%.

A trading update said: "cardfactory.co.uk, ourtransactional site, continues to grow from a low base.

"Including sales from cardfactory.co.uk, total Card Factory year-to-date like-for-like sales grew by 0.5% (11 months ended 31 December 2015: +3.0%)."

Card Factory said the board was confident of delivering full year underlying profit before tax for the current financial year slightly ahead of analyst consensus.

Story provided by StockMarketWire.com

Related Company: CARD

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