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// Card Factory lifts profit outlook thanks to a strong performance over Christmas
// Sales for the 11 months to December 31 rose to £432.6m, compared with £337.3m in the same period last year
Card Factory has lifted its profit guidance following a strong performance over Christmas.
The greeting cards retailer expects annual profits to come in ahead of guidance.
Sales for the 11 months to December 31 reached £432.6 million, compared with £337.3 million in the same period last year.
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Like-for-like sales were up 7% in stores as shoppers returned to the high street and the Royal Mail strike affected online sales.
The postal strikes meant online sales fell by over 27% year-on-year.
Card Factory now expects annual earnings for the full-year of “at least £106 million”, up from consensus forecasts of £96 million, as customers returned to the high street.
Demand for its value-for-money Christmas range remained strong for both cards and gifts as the retailer ensured it managed inflationary pressure.
The retailer said: ”Strong seasonal trading in stores over the Christmas period was supported by our range development and value for money offer across both cards and gifts.
”Christmas trading also benefited from the agility provided by our vertically integrated model, as well as forward ordering and delivery of Christmas ranges, which underpinned strong availability in stores across the Christmas period.”
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