Success is on the cards for high street retailer as sales increase by 5.5 per cent
By James Young | 13th August 2019
Sales have increased by 5.5 per cent at the Card Factory with the company hailing "a robust performance in a challenging consumer environment."
The greetings card retailer, who have two outlets in Gloucester and one in Cheltenham saw total sales and like-for-like sales rise in the six months to July 31 2019.
In a trading update released to the Stock Exchange this morning, Card Factory PLC said that the 5.5 per cent rise in group sales was largely down to new store openings.
There have been 26 new openings in the UK in the six months with the company saying they are on track to deliver 50 new outlets in the UK and Republic of Ireland in the full year.
Like-for-like sales grew by 1.5 per cent, with the company calling the increase "a robust sales performance in a challenging consumer environment."
Karen Hubbard, Card Factory's Chief Executive Officer, said:"Our quality and value proposition continues to resonate well with customers - reflected by the good performance of our seasonal ranges in the first half of the year.
"We continue to work hard at making sure we have the right ranges at the right prices for our customers, in the store and online.
"Alongside that, we remain focused on our important commercial and business efficiency initiatives - all of which will make Card Factory a much stronger business for the long term.
"Looking forward to the forthcoming key Q4 trading period, which will have a significant impact on the outturn for the full year, we believe we have the right ranges and products to deliver a good performance.
"Although, we are cognisant of the economic and political uncertainty and weaker consumer confidence.
"The Board anticipates profits for the full year to be broadly in line with its previous expectations."
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