By Michael Susin
Card Factory PLC said Thursday that its performance during fiscal 2022 was above its board’s expectations as it benefited from the easing of coronavirus-related restrictions.
The U.K. retailer of greeting cards and complementary products said total sales for the 11-month period ended Dec. 31 were 337.3 million pounds ($462.1 million), below the GBP424.5 million for the pre-pandemic 11-month period to Dec. 31 2019, while sales on a like-for-like basis, showed an upward trend toward pre-pandemic levels.
Card Factory said it expects revenue for the full year to be ahead of GBP360.0 million and pretax profit of between GBP7.0 million and GBP10.0 million.
It is confident of achieving its long-term guidance of revenue in excess of GBP600 million for fiscal 2026, it added.
“We continue to see improved trading performance across all channels, with transaction volumes in our stores outperforming high street footfall recovery, demonstrating the loyalty of our customers and strength of the brand. The customer response to our Christmas ranges was particularly strong, across both card and complementary product ranges,” the company said.
Write to Michael Susin at [email protected]
