Card Factory Q1 sales rise despite 'challenging' environment

Retailer Card Factory maintained full year profit expectations as it reported a positive start to the year with first quarter sales up 6.4%, despite Britons spending less due to Brexit worries.

The company on Wednesday said like-for-like sales were up 2.3% against “challenging consumer sentiment and negative footfall on the High Street”.

It added that like-for-like sales would be “marginally positive” with key trading periods ahead.

The company's online unit CardFactory.co.uk had made a good start to the year with continued revenue growth, driven by the success of new ranges and designs in both personalised and non-personalised products.

However, trading at its Getting Personal internet operation continued to be impacted by heavy discounting and increasing customer acquisition cost.

Chief executive Karen Hubbard said the company remained in a strong position, “continuing to grow market share, with lessening cost headwinds and a platform for medium term growth".