Company Announcements

15 November 2022

Card Factory plc ("Card Factory")

Trading Update

Card Factory, the UK's leading specialist retailer of greeting cards, gifts, wrap and gift bags, announces an update to its trading expectations for the current financial year to 31 January 2023 (FY23).

Trading in the second half to date has been stronger than expected, particularly across our everyday ranges. This strong performance has largely been driven by our stores, which have seen year to date Like-for-Like (LFL) sales up 6.2% compared to the previous year (excluding periods of store closure in the previous year). Both our online business and commercial partnerships are performing in line with expectations. 

Christmas is a peak trading period for the business; we have been encouraged by the start to this season with sales marginally ahead of expectations. All internationally sourced seasonal stocks have been landed in the UK, with a significant proportion already delivered to store. 

As a result of trading to date, the Board now believes that EBITDA for FY23 will be at least £96.0m versus current consensus of £88.8m.  This EBITDA would approximate to PBT of £37.5m.

The Company will provide a post-Christmas trading update on 17 January 2023.

Enquiries

Card Factory plc                                                                       via Tulchan Communications (below)

Darcy Willson-Rymer, Chief Executive Officer

Kris Lee, Chief Financial Officer

Tulchan Communications                                                        +44 (0) 207 353 4200

James Macey White / Toby Zeal                                               cardfactory@tulchangroup.com