Member Article

Wakefield’s Card Factory announces IPO

Wakefield-based Card Factory today announces that it intends to proceed with an initial public offering on the London Stock Exchange.

Card Factory is a specialist retailer of greeting cards. It focuses on the value and mid-market segments of the UK’s large, resilient and growing greeting cards market.

Card Factory principally operates through its nationwide chain of over 700 Card Factory stores, as well as through its online offerings.

Card Factory commenced operations in 1997 with just one store and has expanded primarily through organic growth into a market-leading value retailer with a nationwide presence.

Card Factory sold over 285 million single cards in the financial year ended 31 January 2014. In that year, the Group achieved revenue growth of 9.0% to £326.9 million and Underlying EBITDA growth of 9.2% to £80.4 million (2013: £73.6 million) at a margin of 24.6%.

Richard Hayes, CEO of Card Factory, said: “Since opening our first store in 1997, we have firmly established Card Factory as the UK’s leading specialist retailer in the greeting cards market.

“The success of our model is demonstrated through our track record of profitable growth, which includes unbroken like-for-like revenue growth in each year since our first store was opened.

“Our store roll-out strategy is well proven, with an average of 50 new store openings per annum over the past ten years, and we see the potential for significant further store portfolio expansion in the UK and Republic of Ireland over the coming years.

“We also see the opportunity to gain a greater share of the online market for personalised cards and gifts through our existing presence, gettingpersonal.co.uk.

“In recent years and under Charterhouse’s ownership, we have invested substantially in our business infrastructure to create a robust platform to support our future growth plans.”

Photo:© Copyright Chris Talbotand licensed for reuse under this Creative Commons Licence.

This was posted in Bdaily's Members' News section by Clare Burnett .