368.5% Profit Increase and £463.4m Revenue Boost
- Card Factory’s profit before tax increased by 368.5% to £52.4m
- Revenue rose 27% to £463.4m
- Store revenue grew 7.6% on a like-for-like basis
- Online sales dropped 18.8% due to Royal Mail strikes and customers returning to high street shopping
- EBITDA increased by 28.6% to £112.0m
- CEO Darcy Willson-Rymer: ‘well positioned to make good progress in transitioning to omni-channel retailer’
- Strong performance attributed to store-based sales and Everyday card ranges
Card Factory has reported a significant increase in profits, with pre-tax earnings rising by 368.5% to £52.4 million for the year ended January 31, 2023. This comes alongside a 27% rise in revenue to £463.4 million compared to the previous year. Store revenue also grew by 7.6% on a like-for-like basis as customers return to high street shopping. However, online sales dropped 18.8% due to Royal Mail strikes and the shift back to physical stores. CEO Darcy Willson-Rymer credits strong performance in store-based sales and Everyday card ranges for the success, as well as proactive measures to manage inflationary pressures. The company aims to transition into an omni-channel retailer of cards and gifts.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Card Factory’s financial performance, including profit, revenue, store sales, online sales, and CEO’s comments on the company’s progress and future plans. It is based on the company’s official financial report and does not contain any irrelevant or misleading details, sensationalism, redundancy, bias, or logical errors.
Noise Level: 3
Noise Justification: The article provides relevant information about Card Factory’s financial performance and CEO’s comments on their strategy, but it lacks a broader context or analysis of the overall market trends or potential risks faced by the company.
Financial Relevance: Yes
Financial Markets Impacted: Card Factory’s stock price may be impacted by these financial results
Financial Rating Justification: The article discusses the company’s financial performance, including profit before tax, revenue, and EBITDA, which are all relevant to investors and financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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