Card Factory says its customers spending more

Wakefield-based greeting card and gift retailer Card Factory said on Thursday its customers are spending more on average in its stores and online, helping to offset lower high street footfall.

In a trading update, Card Factory said revenue increased 5% for the nine months ended October 31 — but like-for-like sales were impacted by weaker footfall in the latest quarter and fell 0.4%. 

Overall, year-to-date Card Factory like-for-like sales rose 0.9% and the firm continued its store roll out with 12 net new stores opened in the quarter and 38 net new UK and Republic of Ireland stores opened year to date.

Card Factory’s total number of stores as at October 31 was 1,010 including 11 stores in Republic of Ireland.

Card Factory CEO Karen Hubbard said: “I am pleased with our year-to-date performance.

“Our ongoing focus on customer experience, and the quality and range of our card and complementary non-card products, has led to an increased average spend both in stores and online.

“This has helped us to substantially offset the effect of the lower high street footfall experienced in the quarter and the corresponding impact on our like-for-like sales. 

“We remain on track with our new store roll out and are focused on pursuing other new growth opportunities and retail partnerships to extend our market penetration in the UK and overseas.

“Our quality/value proposition and new product ranges give us confidence that we are well positioned to deliver a good performance in our key Q4 trading period.

“The board anticipates profits for the full year to be broadly in line with its previous expectations.”