Greetings card firm to reopen as online sales soar in lockdown
PUBLISHED: 12:32 02 June 2020 | UPDATED: 12:32 02 June 2020
Retailer Card Factory, with shops across Norfolk, plans to reopen 10pc of stores and said online sales have more than quadrupled.
The chain, with two shops in Norwich – in Haymarket and St Stephen’s Street as well as in Dereham, Thetford and Fakenham - plans to reopen some stores from around June 15.
Meanwhile the chain said like-for-like online sales surged 302pc since lockdown and were 153pc higher in its financial year so far.
But the firm – which has furloughed more than 90pc of its staff – cancelled its 2019-20 final shareholder dividend payout and said it did not expect to pay one for the current year due to the impact of Covid-19, while it said 2019-20 results were “significantly impacted by a very challenging market”.
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It posted an 11.8pc drop in underlying pre-tax profits to £67.2 million for the year to January 31, with like-for-like sales at Card Factory down 0.5pc.
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