Skip navigation

Gloucestershire Business News

Card Factory sales exceed expectations

Despite an expected fall, sales at greetings card retailer Card Factory were above expectations, following the reopening of stores last month.

Like-for-like sales at the retailer, which has stores in Cheltenham, Gloucester, Tewkesbury, Cirencester and Stroud, were down 21.6 per cent, compared to an expected fall of 50 per cent.

Despite transactions decreasing since 2019, Card Factory's average spend has risen by 24.9 per cent since stores began reopening on 15th June, as reported by Retail Gazette.

Online sales soared during the coronavirus crisis, with like-for-likes up 68.9 per cent for the year to date. During lockdown, the retailer's online sales were up 120.7 per cent.

Card Factory expects revenue for the first six months of the year to 31st July to come in at around £100 million, 48.9 per cent down on last year's £195.6 million.

While the retailer is pleased with the performance, it doesn't yet know whether the rise in initial post-lockdown sales is as a result of pent-up demand.

Card Factory's ambitious plans for the future include expanding its share of the UK greeting card market to 45 per cent.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 18 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 18

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Plans unveiled for transformation of Gloucestershire police centre Image

Plans unveiled for transformation of Gloucestershire police centre

New images have been revealed for plans to transform one of Gloucestershire's largest operational policing centres.

Randall & Payne: Businesses can thrive post-Covid Image

Randall & Payne: Businesses can thrive post-Covid

Businesses need to adapt and innovate to survive. That’s the message from a webinar from Cheltenham-based accountancy firm, Randall & Payne, which talked about the many opportunities in the food and drink sector.

Developer seeks funding partner for Moog facility Image

Developer seeks funding partner for Moog facility

The developer of a £40million manufacturing and design facility in Tewkesbury is looking for more than £35million forward funding.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.