News
Profits return for retailer as sales approach pre-pandemic levels
09 May 2022
Cards and gifts retailer, Card Factory, says it has delivered a better than expected performance as it publishes its preliminary results for the year-ended 31 January 2022.
Revenue is up 28% to £364.4m (FY 2021: £285.1m) with pre-tax profits of £11.1m (FY 2021: £16.4m loss).
Store sales for the Wakefield-headquartered company were up 33% year on year, reflecting a 20% increase in trading days and a recovery in market share.
Online like for like revenue was down 1.5%, which Card Factory says reflected easing of lockdown restrictions and a return of customers to physical stores.
Darcy Willson-Rymer, chief executive officer, said: “We are pleased to report a robust performance for the year, ahead of our original expectations, alongside good progress on our strategic transition, despite the operational challenges the last year brought.
More information and source here: Profits return for retailer as sales approach pre-pandemic levels | TheBusinessDesk.com