Card Factory reports sales up almost 9% and appoints property director

The growth, covering the period to October 31, was similar to that delivered in the comparable period last year.

Card Factory said the rise reflected a like-for-like sales rise – although no number was given – along with the contribution from new stores and online growth.

Card Factory chief executive Richard Hayes said: “We continue to develop our product range and remain very focused on delivering a strong and clear value proposition to our customers.

“As we enter the important Christmas trading period, the group is well positioned for further growth.”

The retailer opened a net 48 new stores in the nine months, bringing the total to 761. The retailer sees potential for 1,200 ultimately.

Card Factor said it has promoted Tim Lloyd to become property director. He has been with the retailer since 2003, when it had 40 stores.

Hayes said: “In addition to his extensive knowledge of the high street and property market, Tim is very familiar with our business model, the existing store estate and future roll-out pipeline.”