Changes sweep the boardrooms and C-suites of biggest businesses in the UK August 24, 2022 The boardrooms and C-suites of some of largest companies in the UK have undergone sweeping overhauls this week alone. The winds of change have blown as the country heads into autumn and buckles down for a worsening economic crisis, some two years on from the start of the pandemic. While Covid-19 measures in the country [...]
Card Factory financial chief to exit firm with £40,000 golden parachute July 25, 2022 Card Factory financial chief Kris Lee is set take away a £40,000 golden parachute after stepping away from his position at the Wakefield headquartered card seller Lee, who joined Card Factory in 2017 following a more than five-year stint as group finance director at The Edinburgh Woolen Mill Group, will be paid £40,000 in compensation [...]
Card Factory posts revenue growth thanks to store recovery and occasion boom May 3, 2022 Card Factory posted 28 per cent revenue growth this morning to £364.4m thanks to the steady recovery of stores following the easing of lockdown restrictions, alongside an online performance significantly ahead of pre-pandemic levels.
Card Factory completes £225m refinancing as reopening sales soar May 21, 2021 Card Factory today said it had completed a £225m refinancing deal with its existing commercial bank syndicate. The increased bank facilities will provide extra liquidity above the original £200m it replaces. The facilities will provide Card Factory with the necessary financial resources to focus on future growth, such as boosting its online presence. Darcy Wilson-Rymer, [...]
Card Factory suffers loss as closures rip through festive sales January 14, 2021 Closed stores over the Christmas period meant Card Factory suffered significant losses, sending its shares down 4.1 per cent this morning. Card Factory experienced a year-on-year decline of over 38 per cent, where forced store closures prohibited openings for 37 per cent of available trading days. Sales over the eleven-month period fell from almost £425m [...]
Card Factory says second half sales recovering, gives no outlook September 29, 2020 Britain’s Card Factory said today it has had an encouraging start to the second half of the fiscal year as its stores reopened, but could not provide a forecast for the rest of the year as it faced the impact of a new wave of coronavirus lockdowns. “In the short term, as well publicised, recovery in the retail [...]
Card Factory online sales soar 120 per cent over lockdown July 28, 2020 Card Factory has avoided its worst case scenario of a staggering drop in store sales since the end of lockdown, it said today, as digital sales soared 120 per cent during the quarantine period. The greetings card retailer said today that store sales have plunged 21.6 per cent year on year since mid-June, better than [...]
Card Factory scraps dividend as higher costs hit profit June 2, 2020 Card Factory today scrapped its full-year dividend as higher costs and the ongoing impact of Covid-19 weighed on profit. The figures Card Factory reported revenue of £451.5m for the year to the end of January, up 3.6 per cent year on year. Like-for-like sale dipped 0.5 per cent over the year. Underlying profit before tax [...]
Card Factory opens new distribution centre to cope with surge in online demand May 6, 2020 Card Factory has opened a new distribution centre to keep up with a surge in online orders during the coronavirus lockdown while maintaining safety measures for warehouse staff. The retailer said the Card Factory website saw sales soar 267.5 per cent during lockdown, while its Getting Personal brand reported a 57.5 per cent jump in [...]
Card Factory shares dive as retailer warns on profit January 9, 2020 Shares in Card Factory plunged more than 19 per cent this morning after the retailer warned that profits will be lower than expected following a challenging Christmas trading period. The high street chain said full-year adjusted underlying earnings before interest, tax, depreciation and amortisation (Ebitda) will be in the range of £81m to £83m, reflecting [...]