Card Factory interim results are encouraging following stores reopening.
Card Factory have released their interim results for the six months to July 31, 2020 and the results are in line with expectations due to store closures during lockdown and the phased reopening.
The greeting card retailer experienced strong online performance with +64.4% like-for-like revenue growth due to the increased demand during the period of store closures and the positive response following the website relaunch in July 2020.
Partnership sales performance has been better than expected, with Â£1.9m in sales as a result of strong Aldi footfall and The Reject Shop’s positive performance since reopening in Australia.
Paul Moody, Executive Chairman, commented, “I am extremely proud of all colleagues working across every part of our business for the significant contribution they have made throughout this period of unprecedented disruption. In particular, for their unrelenting focus in driving the very successful phased store-reopening programme. The combination of our unique customer insight, vertically integrated business model and market leading position continues to ensure that we are well positioned to meet the increased online demand, supply our commercial partners and to present the optimum ranges in our stores.
“We are pleased with both the trading performance as our stores have reopened and the positive feedback from customers who are visiting less frequently, but spending more. Recognising the uncertainty of the impact of further Covid-19 measures and changes in consumer behaviour in the short term, we are focused on a flawless execution of Christmas and the implementation of our refreshed strategy.”
The full statement can be found here.