Greetings card firm to reopen as online sales soar in lockdown
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”.
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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