High Street Performance Boosts Card Factory’s Sales Amid Royal Mail Strikes
- Card Factory raises full-year guidance due to strong Christmas sales
- Sales hit £432.6m in 11 months to Dec 2022, up from £337.3m the previous year
- Store revenue increased by 7.1% on LFL basis
- Online sales impacted by December Royal Mail strikes
- Wedding, life moments, and children’s ranges saw double-digit like-for-like growth
Card Factory has reported a strong performance in the high street sales during the Christmas period, leading to an increase in its full-year guidance. The company anticipates EBITDA of at least £106m for FY23 and a profit-before-tax of around £48m. Sales reached £432.6m in the 11 months to December 2022, up from £337.3m the previous year. Store revenue increased by 7.1% on a like-for-like basis, with store transactions and average basket values also improving. However, online sales were impacted by the Royal Mail strikes in December, down 27.6% year-on-year. The company’s wedding, life moments, and children’s ranges saw double-digit growth. CEO Darcy Willson-Rymer expressed gratitude to colleagues for their hard work during the busy Christmas period.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Card Factory’s financial performance, including sales figures, guidance updates, and CEO comments on the company’s progress and future plans.
Noise Level: 3
Noise Justification: The article provides relevant information about Card Factory’s financial performance and highlights its strong high street sales during the Christmas period. It also mentions some challenges faced by online sales due to Royal Mail strikes. The CEO’s comments add credibility to the report. However, it could provide more context on the overall market trends or industry insights for a better understanding of the company’s performance.
Financial Relevance: Yes
Financial Markets Impacted: Card Factory’s stock price and retail sector
Financial Rating Justification: The article discusses Card Factory’s improved financial performance, updated guidance for EBITDA and profit-before-tax, and the impact of Royal Mail strikes on its online sales. This information is relevant to investors and impacts the company’s stock price and the retail sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:
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