Member Article

Solid 8% revenue growth for Wakefield's Card Factory

Wakefield-based greetings card firm Card Factory has reported that in the 11 months ended 31 December 2014, revenue increased by 8.1%.

The firm says this growth was driven by a combination of like-for-like sales growth, new store roll out and further growth in their online business, Getting Personal.

The growth rate is just under that delivered in the 11 months ended 31 December 2013 (8.9%).

Card Factory’s like-for-like store sales grew by +1.8% during the period despite a strong comparable period last year when like-for-like sales grew by +3.1%

A total of 51 net new stores have been opened in the year to date, bringing the total estate to 764 stores as at 31 December 2014 and the group expects a strong pipeline of additional new store opportunities, aiming for 50 per year.

Richard Hayes, Card Factory’s Chief Executive Officer, said: “With only a few days of our financial year remaining, it is pleasing to report that the Group continues to perform well, has had a solid Christmas trading period, and is on course to deliver sales growth at a similar level to the previous year.

“The strength of our retail proposition is the key to our consistent performance and we are well placed to further improve our customer offer in the year ahead. This is underpinned by our established vertically integrated model which has been developed over the past decade with significant investment.

“As the clear market leader, we remain confident of our ability to achieve further profitable growth.”

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