LONDON (Alliance News) - Card Factory PLC on Tuesday said it had continued to trade in line with the board's expectations, as a strong performance in like-for-like sales of non-card products drove up the card retailer's revenue in 2015.
Card Factory said it had seen a 8.1% total sales growth in the 11 months ended December 2015, attributing this rise to a 2.8% like-for-like store sales growth, which was particularly strong in non-card products and continued over the Christmas period, as well as the opening of 50 new stores in line with historic and projected role-out rate.
The retailer said it had also further developed its online activities over the period, relaunching its Card Factory website and achieving the targeted double digit revenue growth on its Getting Personal website. The first half of the financial year saw a 25% revenue growth on the website.
It said the next financial year ending January 31, 2017 would see additional store openings, continuing with a rate of 50 new stores per year, as well as the appointment of the new CEO Karen Hubbard in June, which was announced January 6.
"We remain on course to deliver sales growth at a similar level to last year, highlighting once again the strength and consistency of our retail proposition and performance, underpinned as ever by our unique vertically integrated model," said Chief Executive Richard Hayes.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Card Factory (CARD)