Card Factory Q1 sales rise despite 'challenging' environment

(Sharecast News) - Retailer Card Factory maintained full year profit expectations as it reported a positive start to the year with first quarter sales up 6.4%, despite Britons spending less due to Brexit worries.The company on Wednesday said like-for-like sales were up 2.3% against "challenging consumer sentiment and negative footfall on the High Street".It added that like-for-like sales would be "marginally positive" with key trading periods ahead.The company's online unit CardFactory.co.uk had made a good start to the year with continued revenue growth, driven by the success of new ranges and designs in both personalised and non-personalised products.However, trading at its Getting Personal internet operation continued to be impacted by heavy discounting and increasing customer acquisition cost.Chief executive Karen Hubbard said the company remained in a strong position, "continuing to grow market share, with lessening cost headwinds and a platform for medium term growth".