Card Factory, the UK-based specialist retailer of greeting cards, gifts and celebration essentials, has reported a significant increase in sales for the 11 months ending 31 December 2023.
During the period, the company’s total sales reached £476.9m ($604m), a 10.2% year-on-year rise compared to the previous year’s £432.6m.
The retailer attributes this growth to the successful implementation of its business strategy and the continued appeal of its value and quality proposition.
Card Factory’s store revenue saw an 8.2% increase on a like-for-like (LFL) basis, bolstered by the positive impact of its Store Evolution Programme.
The company’s everyday and seasonal card ranges experienced a 5.4% LFL growth during the period.
The retailer’s gift and celebration essentials ranges, including candles and soft toys, also posted a 9.9% LFL increase, driven by double-digit growth in some categories.
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Despite a 12.8% decrease in online LFL sales for the 11 months to 31 December, there was an improvement from the half-year figures.
The retailer attributed the improvement to a slight year-to-date increase of 0.2% on cardfactory.co.uk.
During the 2023 Christmas period, Card Factory recorded strong performance with a 7.8% LFL store revenue increase in November and December.
Card Factory chief executive officer Darcy Willson-Rymer stated: “We are pleased to have delivered a strong performance over the Christmas period, further demonstrating the progress we are making on our strategic growth initiatives. Our value and quality proposition continues to resonate with customers at a time when value for money is as important as ever.
“Even during challenging times, consumers want to celebrate key life moments and this was reflected in the positive performance that we saw in the Christmas trading period and throughout the year to date.”
“Colleagues across all areas of our business have worked incredibly hard to deliver an improved experience for our customers this year. As we look ahead, we remain focused on delivering against our growth strategy by helping our customers to affordably celebrate all life’s moments.”