Card Factory (CARD) Trading Update summary

Trading performance

• Total sales for the eleven months to 31 December 2024 reached £506.6 million, up 6.2% year-on-year, outperforming the non-food retail market.

• Store revenue rose 5.7% with 32 net new stores; like-for-like (LFL) store revenue grew 3.9%.

• Gifts and celebration essentials LFL grew 6.1%, while card sales increased 1.4% LFL.

• Online LFL sales declined 10%, mainly due to gettingpersonal.co.uk, but cardfactory.co.uk LFL sales grew 0.5%.

• Partnerships revenue increased 23.5% to £18.9 million, aided by acquisitions of Garlanna and Garven.

Christmas and seasonal trading

• Christmas trading in November and December saw total revenue growth of 4.7%, driven by higher average basket values.

• LFL store revenue grew 3.0% during the Christmas period, supported by strong seasonal offers and space optimisation.

• New and expanded gift categories, including confectionery, licensed ranges, and soft toys, performed well.

• A new value-focused Christmas card offer contributed positively to seasonal performance.

Profit outlook and cost management

• Full year adjusted profit before tax is expected to be in line with market expectations (£65.7m–£67.0m).

• Productivity and efficiency savings, along with prudent cost management, supported margin enhancement.

• FY26 faces c.£14 million cost inflation from wage and NIC changes, expected to be offset by ongoing efficiency and pricing strategies.

• Mid- to high-single digit percentage increase in adjusted profit before tax anticipated for FY26.