Member Article

Card Factory reports sales growth ahead of busy Christmas period

Card Factory has seen sales growth of 7.9 per cent, for the nine months ending 31 October 2014, as it continues its ambitious plans to roll out 50 net new stores in the current financial year.

The Wakefield-based greetings card and gift retailer reported a revenue increase of 7.9 per cent driven by a combination of like-for-like sales growth, new store roll out and further growth in complementary online activities.

The retailer opened nine net new stores during the third quarter, bringing the total to 45 new store openings to date.

Despite delivering 27.1 per cent revenue growth in the second half of last year, the Card Factor’s principal online business, Getting Personal has encountered “more challenging comparative figures” and, as a result, the retailer expects growth to be lower than the 24.9 per cent projected for 2015.

Richard Hayes, Card Factory’s Chief Executive Officer, said: “We have seen another period of consistent performance across the Group as we continue to drive growth from existing and new stores, as well as our expanding online operations.

“We are well prepared for the important, competitive Christmas period, and remain confident of our ability to continue to increase market share whilst delivering on all four pillars of our growth strategy.”

This was posted in Bdaily's Members' News section by Ellen Forster .