FILE PHOTO: A woman wearing a face mask looks at a smartphone as she walks past a shuttered branch of Card Factory in Hackney, following the outbreak of the coronavirus disease (COVID-19), London, Britain, June 2, 2020. REUTERS/Simon Newman
(Reuters) – Card Factory (CARDC.L) said on Tuesday sales at its stores since they reopened exceeded the company’s expectations, helped by a jump in average spend, sending the British card retailer’s shares up 4%.
The company said like-for-like in-store sales since reopening were down 21.6%, compared to an expected 50% reduction in the first month of reopening.
The company is targeting a revenue of around 635 million pounds for 2025 and nearly 5,600 distribution units, of which about 1,100 will be group operated stores.
Reporting by Tanishaa Nadkar in Bengaluru; Editing by Vinay Dwivedi
