Card Factory sales rise 5.3% to £260.8m despite UK consumer pressure

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2▲1 ▼0Impact / 5
Summary · why it matters

Card Factory has reported a 5.3% rise in revenue to £260.8 million for the six months to July 31, even as pressure on UK consumers weighed on its high street stores. The retail chain, which runs 1,126 shops across the UK and Ireland, said digital sales jumped by £12.8 million, driven by the £24 million acquisition of Funky Pigeon from WH Smith in July, helping offset a 0.7% revenue decline in its main stores business. Like-for-like store sales fell 2%, partly offset by the opening of 23 new stores over the past year, while store sales in the Republic of Ireland rose 24.3% year-on-year on continued expansion there. Adjusted pre-tax profits slipped slightly to £12.7 million from £13.2 million a year earlier, and chief executive Darcy Willson-Rymer said the half-year represented further progress in becoming a broader, more diversified business across the gifting and celebrations market. Card Factory said it has been encouraged by trading since the end of July, with UK like-for-like store sales returning to growth in recent weeks, and shares in the company were up 2.5% at 74.5p.

Impact on assets 2

Consumer Discretionary▲
Card Factory PLC
CARD
▲ PositiveCapitalrelevance

Card Factory reported 5.3% revenue growth to £260.8m and shares rose 2.5%, though adjusted pre-tax profit slipped to £12.7m.

WH Smith PLC
SMWH
± MixedCapitalrelevance

WH Smith is mentioned only as the seller of Funky Pigeon to Card Factory for £24m.

Off-coverage companies 1

Funky Pigeoni
Private▲ PositiveDemandrelevance

Funky Pigeon's acquisition drove a £12.8m jump in Card Factory's digital sales.