Card Factory has seen its half year revenue increase by 69.4% to £198 million following a “shift of customer spend back towards the high street and reversal of lockdown effects”.
In the six months to 31 July, the greeting cards retailer posted a pre-tax profit of £14.3 million compared to a loss of £6.5 million at the same time in the prior year.
Online sales at Cardfactory.co.uk were down year-on-year as customers returned to the high street following the pandemic. However, this led store revenue to grow by 81.8%.
During the period, the retailer opened six new stores in Ireland and a first small format trial store in central London. It is currently making final preparations for the launch of a trial click & collect service in 84 shops.
Looking ahead, Card Factory said it will manage inflationary pressures through a combination of targeted price increases and efficiency measures.
