Card Factory has reported a drop in full year profits after trading was impacted by lower high street footfall. In the year to January 31st, pre-tax profit fell by 8.3% to £66.6 million as the retailer saw its like-for-like sales dip by 0.1%. Revenue increased by 3.3% in the period to £436 million.
Card Factory chief executive, Karen Hubbard said: "We delivered a robust performance for the year, maintaining flat like-for-like sales despite a tough consumer environment. Our focus has been on continual improvements to our customer offer, producing better, more innovative ranges of everyday and seasonal cards and maintaining our quality and value positioning, while also being more efficient and driving savings across the business."
During the year, Card Factory opened a net 51 stores as it looks to reach its target of more than 1,200 stores in the UK and overseas. The retailer has also embarked on a trial with Aldi where its ranges have been made available in 112 stores.
