Card Factory sales up 3.2% despite ‘extreme weather’

Card Factory has reported 3.2% growth in total group sales for the six months ending 31 July, despite the impact of the year’s “extreme weather conditions” on high street footfall.

The retailer’s like-for-like sales decreased to -0.2%, a drop of 3.1% when compared with the same trading period last year and which the group blames on a “weak consumer environment”.

In a statement the firm said the weather’s impact and “continuing uncertainty around the UK consumer environment” could lead to full-year 2018 EBITDA within the range of £89m – £91m, dependent on the Q4 trading period

Some 25 new UK stores opened during the period and the retailer also opened one new store in the Republic of Ireland, bringing the total number of trial stores in the region to seven.

CEO Karen Hubbard said: “We continue to experience a weak consumer environment, made all the more challenging by the impact of this year’s extreme weather conditions on high street footfall. Taking into account the above, the board’s current expectation is that EBITDA for the year will be in the range of £89m to £91m.

“Our key Q4 trading period will of course be critical in determining the final result for the year, but we believe we are well positioned to deliver a good performance in our important Christmas trading season.”