Clintons has returned to profit under its new owner following a store closure programme, and despite a drop in sales
The greeting card and gifting giant has reported a pre-tax profit of £8m in the year to June 29 2024, following a loss of £5.3m during the previous year. It experienced a 14% drop in sales, from £96.5m to £82.6m.
Clintons was acquired by Cardzone owner Pillarbox Designs in March 2024. New Clintons boss James Taylor told Retail Gazette last year that the greetings chain was in a “worse state than expected”. He added: ”We weren’t optimistic as to what we would find or the condition the business would be in, but we underestimated the task to turn it around.”
After the purchase last year 15 stores were closed, bringing its total to around 170 shops, and more than 300 jobs were axed.
