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RNS Number : 4985G Card Factory PLC 15 November 2022
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
(mailto:cardfactory@tulchangroup.com)
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