Trading improves for Card Factory
By Matt Hall | 9th November 2021
Retailer Card Factory has revealed an improvement in sales as shoppers returned to shopping on the high street.
With stores in Gloucester, Cheltenham, Stroud and Tewkesbury, the business said that on a two-year basis, like-for-like store sales were down three per cent in the quarter to October 31 - however online sales remained inline with expectations.
Average basket valve during the period is reported to have exceeded pre-pandemic levels and rose 22.5 per cent on a two-year like-for-like basis.
Card Factory added that its customers are "responding well" to Christmas product ranges and it hoped supply chain issues would not have an effect on its business.
It said: "A relatively small proportion of products sourced from the Far East is subject to the widely reported supply chain delays, but we believe our contingency planning will ensure any delays to store deliveries are minimised and short lived."
Darcy Willson-Rymer, chief executive of Card Factory said: "We continue to see improved performance of the business as customers steadily return to shopping in stores.
"This gives us confidence as we engage to realise the refreshed strategy and build our omni-channel offering.
"We look forward to the future and the continued implementation of our strategy. We are confident that the group is well placed to take advantage of the growth opportunities available to it."
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