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Card Factory hails ‘successful’ Christmas with boost in basket values

Card Factory hails ‘successful’ Christmas with boost in basket values

Card Factory has reported a strong performance over the key Christmas trading period, with revenue rising 4.7% in November and December.

The retailer‘s growth was driven by a higher average basket value, supported by expanded product ranges and strong sales of gift and celebration items.

Like-for-like store revenue increased by 3%, which it attributed to the success of its seasonal Christmas offerings and the positive impact of its ongoing space optimisation programme.

Card Factory CEO Darcy Willson-Rymer said: “We are pleased to have delivered another successful Christmas trading period. Expanded ranges and our compelling gift and celebration essentials offer increased basket values during the period, whilst we also saw a resilient performance in seasonal cards, with customers responding well to our strong value and quality ranges.”

Card Factory’s total sales for the 11 months to 31 December reached £506.6m, up from £476.9m in the same period last year.

Total store revenue rose by 5.7%, driven by the opening of 32 new stores, while like-for-like store revenue grew by 3.9%.

However, online like-for-like sales slipped 10%, largely due to weaker performance at gettingpersonal.co.uk. Meanwhile, cardfactory.co.uk saw a modest increase of 0.5% in like-for-like sales, with the retailer focusing on driving growth through higher-margin product lines.

Card Factory expects its full-year adjusted pre-tax profit to align with current market expectations, in the range of £65.7m to £67m.

Willson-Rymer added: “Continued revenue growth, combined with the benefits of our productivity and efficiency programme, have enabled us to navigate a challenging retail environment and deliver a robust performance in the second half.

“As a result, we expect to deliver full-year profits in line with expectations and remain well-positioned to manage inflationary pressures in the near term, as we continue to deliver on our strategic growth ambitions.”

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