14th Jan 2021 12:06
Card Factory PLC - Wakefield, West Yorkshire-based card and gift retailer - Expects revenue for its financial year ending January 31 of around GBP234 million and a pretax loss around GBP10 million, a steep deterioration from revenue of GBP451.5 million and pretax profit of GBP65 million in financial 2020.
Blames performance on extended periods of mandatory closure of its stores amid government-ordered lockdowns, adding that until stores are able to open as normal uninterrupted by restrictions, it is unable to provide guidance for financial 2022.
Looking ahead, Card Factory says: "Assuming the current national lockdown for non-essential retailers does not extend beyond April 30, 2021, existing bank facilities of GBP200 million would be sufficient to meet the current requirements."
Current stock price: 37.35 pence, down 6.9% Thursday
Year-to-date change: down 13%
By Ife Taiwo; [email protected]
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