THE AMERICAN greetings card giant that rescued Clinton Cards is expected to reveal that its turnaround of the UK chain is starting to pay off when it reports its full-year results on Thursday.
Dominique Schurman, chief executive of Clintons, was cited yesterday saying that the high street chain was performing better than expected.
Clinton Cards collapsed into administration last year after American Greetings – its biggest supplier – called in a £35m loan.
The Ohio-based company then bought the troubled chain for $37m – keeping just half of its 800 stores – and brought in Schurman to oversee its turnaround.
In an interview with The Times yesterday, Schurman said the chain’s new image – including its name change to Clintons and the new red signage, replacing the old orange-and-white – had helped boost sales at revamped stores by 10 to 15 per cent.
Clintons also plans to develop an online personalisation service, where shoppers can customise their own cards, she said.
American Greetings, which is soon to be taken private by its founders, has seen sales decline over the past decade amid stiff online competition. It has seen earnings fall this year due to costs related to writing off bad debt at Clintons.