Card Factory
This coverage examines Card Factory’s strategy, operations, and performance in the UK greeting cards and value retail sector. Reporting highlights financial results, store openings, product strategy, leadership changes, and market positioning. Aimed at retail executives, buyers, and managers tracking trends in affordable gifting, consumer demand, and competitive dynamics within value-led retail.
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Sep- 2021 -28 SeptemberHigh Street
Card Factory narrows H1 losses to £6.5m
Card Factory has announced that it has narrowed its pre-tax losses for the six-month period ending 31 July 2021 to £6.5m, up from losses of £22.2m the prior year. Revenue for the period grew by 16.3% to £116.9m up from £100.5m in 2020, and was boosted by the group’s transactional…
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Jun- 2021 -10 JuneHigh Street
Card Factory swings to £16.4m loss in 2020
Card Factory has reported a pre-tax loss of £16.4m for the full-year ending 31 January 2021, down from £65.2m profit the previous year, as the company continued to be affected by the Covid-19 pandemic and ongoing lockdowns. Revenue plummeted 36.9% to £285.1m in the period, down from £451.5m in 2020,…
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May- 2021 -21 MayHigh Street
Card Factory completes £225m refinancing
Card Factory has announced it has completed a £225m refinancing with its current banking syndicate. The news follows the retailer’s recent trading update which saw its sales performance “exceed expectations” after reopening following the first and second lockdowns. Sales from the online channels reportedly fell which was in line with…
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Apr- 2021 -30 AprilHigh Street
Card Factory trading performance ‘exceeds expectations’
Card Factory has announced that its performance following the reopening of stores in England and Wales “exceeded its expectations”. The company has also revealed that it has agreed headline terms for refinancing of the group with its current syndicate of commercial lending banks, with a further update due in the…
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Mar- 2021 -8 MarchHigh Street
Card Factory seeks fresh funding to aid survival
Card Factory has reportedly drafted in restructuring experts to help secure news funds to support the group through the pandemic. According to the Sunday Times, consultants from Deloitte initially contacted specialist lenders on behalf of the group in efforts to borrow £100m. Half of the funding would reportedly be used…
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2 MarchHigh Street
Card Factory confirms refinancing plans
Card Factory has issued a liquidity update which confirmed the groups intentions to “refinance” as the banks have provided further waivers in respect of “anticipated covenant breaches” through until 31 March 2021. The group claimed that the banks had taken into account the company’s cash flow projections and that it…
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Jan- 2021 -29 JanuaryHigh Street
Card Factory to receive one month covenant breaches waiver
Card Factory has been issued a one month extension to covenant breaches by banks until 28 February 2021. Earlier this month, the firm warned it was going to breach its banking covenants by the end of January, although it had access to £200m of debt facilities. The group stated it…
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15 JanuaryHigh Street
Card Factory sales down 38% in 2020
Card Factory, the greetings cards, dressings, and gifts provider, has announced its sales for the eleven months ended 31 December 2020 were down by 38.1% year-on-year. With Covid-19 leading to mandatory store closures that resulted in prohibited openings for 37% of available trading days, the firm saw its revenue fall…
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Dec- 2020 -22 DecemberNews
Card Factory appoints new CEO
Card Factory has announced the appointment of Darcy Willson-Rymer as CEO, which will come into effect on 8 March 2021. Willson-Rymer will join the company from Costcutter Supermarkets, where he has served as CEO for the last eight years. During his time at Costcutter, Willson-Rymer steered the multi-site owned and…
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Sep- 2020 -29 SeptemberHigh Street
Card Factory swings to half-year loss
Card Factory has swung to a half-year loss after Covid-19’s economic downturn affected its trading. The retailer saw a £22m statutory pre-tax loss in the six months to 31 July, against the £24.3m profit reported last year. Sales dropped by 48.6% to £100.5m during the six-month period and like-for-like sales…
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