Card Factory posts improved trading as shoppers return to stores

The retailer said that on a two-year basis, store like-for-likes were down 3% in the quarter to 31October, while online trading was “in line with expectations”. 

Card Factory reported that average basket value over this quarter continued to exceed pre-pandemic levels - up 22.5% on a two-year like-for-like basis, which offset the transaction numbers down 20.9%.

The retailer said that customers are ”responding well” to Christmas ranges and reassured over supply chain issues that have afflicted retail. It said: A relatively small proportion of products sourced from the Far East is subject to the widely reported supply chain delays, but we believe our contingency planning will ensure any delays to store deliveries are minimised and short lived.”

Chief executive Darcy Willson-Rymer said: “We continue to see improved performance of the business as customers steadily return to shopping in stores.  This gives us confidence as we engage to realise the refreshed strategy and build our omnichannel offering.

We look forward to the future and the continued implementation of our strategy.  We are confident that the group is well placed to take advantage of the growth opportunities available to it.”