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H2 sales better than expected for Card Factory

The retailer has said that trading in the second half of its financial year so far has been strong.

Trading during the second half has been boosted by the everyday ranges, as well as its stores, which have seen a year-to-date sales rise of 6.2% on the previous year. The online and commercial side of the business is performing in line with expectations.

Coming into Christmas trading, Card Factory’s sales are marginally ahead of expectations. All internationally sourced stocks have landed in the UK, with much of the stock already delivered to stores.

As a result of trading to date, the Card Factory board now believes EBITDA for the full year trading will be at least £96 million, compared to the current consensus of £88.8 million.

The retailer will provide a post-Christmas trading update on 17 January, 2023.

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