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Card Factory like-for-like sales fall slightly as new stores, digital growth steady performance

Thu, 14th Nov 2019

Card Factory said like-for-like sales fell slightly in the third quarter of the year as new stores and digital growth steadied performance amid a gloomy retail backdrop. Card Factory like-for-like sales fell 0.3% in the quarter but rose 0.9% in the nine months ended 31 October 2019, while revenue was up 5.0%, from a pace of 3.4% on-year. Card Factory stores saw an increase in average spend, but like-for-like sales were impacted by weaker footfall in the quarter and declined 0.4%. Year-to-date Card Factory like-for-like store sales remained stable at 0.7%. CardFactory.co.uk sales grew 16.2% in the third quarter against a tougher prior year comparative, bringing the year-to-date Card Factory website growth to 21.9%. The company anticipated that profits for the full year would be broadly in line with its previous expectations. Story provided by StockMarketWire.com

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