Pre-tax profits for the greetings card retailer grew by 25% to £65.6m, with like-for-like sales in stationery category growing by 63%.
Group revenue is up 10.3% to £510.9m in FY24 compared to FY23, reflecting continued positive momentum. Total store revenue grew 8.7%, including contribution from 26 net new store openings during the period. This growth was “driven by a strong store performance, with growth in card, gifts and celebration essentials, combined with positive traction in online.”
The company continues to focus on growing its UK market share of the circa. £12 billion gifts and celebration essentials market, by expanding its ranges further in FY24, including own-label ranges, a new stationery range and the introduction of key licensed ranges. There was particularly strong like-for-like (LFL) growth in soft toys +42%, stationery +63% and pocket money toys +44%. FY25 will see further expansion including baby gifting and stationery, alongside further space optimisation for growth ranges such as pet gifting.
Darcy Willson-Rymer, chief executive officer, commented: “I am delighted with the progress we have made through the year which would not have been achieved without the commitment and efforts of our colleagues.
“Now, three years into our ‘Opening our New Future Strategy’, cardfactory is financially and operationally a much stronger business. This means that we are able to both reinstate the dividend and invest in the future, while effectively navigating the ongoing economic environment. We have confidence in our strong value and quality customer proposition, and remain on track for both this financial year and for achieving our FY27 targets outlined at our Capital Markets Day in May last year.”
