High street retailer Cardfactory reported strong Christmas trading and a YOY increase of more than 10% sales in its trading update to the end of 2023.
Year on year sales were up to £476.9 million, with store revenue growing by 8.2% LFL, and gifts and celebration essentials up 9.9%, driven by candles, soft toys and licensed ranges.
Strong Christmas trading performance was driven by increased number of transactions and increased average basket value, with To The Pet cards up 49%, open cards up 37%, and wife cards up 41%.
Soft toys saw growth of 45% and confectionary a whopping 77%.
Darcy Willson-Rymer, chief executive officer, commented: “We are pleased to have delivered a strong performance over the Christmas period, further demonstrating the progress we are making on our strategic growth initiatives. Our value and quality proposition continues to resonate with customers at a time when value for money is as important as ever. Even during challenging times, consumers want to celebrate key life moments and this was reflected in the positive performance that we saw in the Christmas trading period and throughout the year to date.
“Colleagues across all areas of our business have worked incredibly hard to deliver an improved experience for our customers this year. As we look ahead, we remain focused on delivering against our growth strategy by helping our customers to affordably celebrate all life’s moments.”
