Member Article

Wakefield's Card Factory adds another 29 new stores to their portfolio

Wakefield-based Card Factory have gone from strength to strength after their IPO, reporting another 29 stores open in the first quarter of this year alone.

This brings the total estate to 742 stores as at 31 May 2014. The group has a “strong pipeline” of additional new store opportunities and remains confident of opening a total of approximately 50 net new stores in the current financial year in line with historic opening rates.

The group has opened an average of over 50 new stores per year over the past 10 years and intends to continue to expand its store portfolio organically to up to 1,200 stores in total over the next 10 years, including up to 100 potential new stores in the Republic of Ireland.

Richard Hayes, Card Factory’s chief executive officer, said: “We have had a positive start to our current financial year, further developing our distinctive value proposition and continuing to deliver on our clear growth strategy.

“The Board remains confident of the Group’s ability to further grow market share for the foreseeable future.”

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