Published by Insider Media
CARD FACTORY TRADING AHEAD OF EXPECTATIONS AFTER STRONG CHRISTMAS
High street gift card retailer Card Factory has traded ahead of expectations, with particularly strong sales in the run up to Christmas.
In a trading update, the listed business said its performance in the 11 months to 31 December 2021 had been ahead of the board's expectations, with a recovery from April 2021 as Covid-related restrictions eased.
The total sales of £337.3m were ahead of the board's expectations, but below the £424.5m for the pre-Covid 11 months to 31 December 2019.
Trading recovered particularly strongly through December, with like-for-like store sales in the run up to Christmas returning to similar levels to those of December 2019.
Online sales increased 23.3 per cent on a two year basis to £22.2m.
Revenue for the full year is now expected to be in excess of £360m, with EBITDA in the range of £71m to £74m and profit before tax of between £7m and £10m.