Card Factory sees recovery with online sales up 23.3% to £22.2m

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The Card Factory reported a recovery to pre-Covid levels, with its online sales increasing 23.3% in the 11 months to December 31, 2021 (FY22) to £22.2m over two years, with cardfactory.co.uk revenue increasing by 130.3% and gettingpersonal.co.uk revenue decreasing by 11.4%.

Revenue from Cardfactory.co.uk also increased by 1.1% compared to the comparable period of FY21, offset by a decline of 20.7% in revenue from gettingpersonal.co.uk.

Pre-tax profit for the full year is expected to be between £7m and £10m, with EBITDA between £71m and £74m, and revenue expected to exceed £360m.

Retail partnership sales were also up 24% to £4m over two years and 22% from 2020.

Meanwhile, the company’s total sales for FY22 were £337.3m, which is “ahead of board expectations” but 20% below levels. pre-Covid of £424.5m, due to trade restrictions and reduced consumer confidence following the easing of restrictions.

Overall FY22 store sales were £310m, down 5.4% year-on-year and down 0.8% on a like-for-like basis. to the previous year.

However, the card factory saw a recovery in performance from April 2021 as Covid-related restrictions eased, with same-store sales showing an upward trend towards pre-Covid 2019 levels.

Darcy Willson-Rymer, CEO, said, “Our vertically integrated model has placed the group in a strong position to partially mitigate the supply chain challenges and inflationary pressures that have been seen across the market at this day.

“While we expect to be able to offset inflationary pressures to some degree through price increases across our ranges, we anticipate some pressure on margins in the next fiscal year as the expected inflationary headwinds continue. “

He added, “I remain extremely excited about the opportunities for Card Factory as we focus on executing our strategy and transforming the business into a full-service omnichannel retailer.”

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