Business
Trading Statement and Capital Markets Day
Trading Statement and Capital Markets Day.
About this update from Card Factory Plc
[{"type":"text","content":"\n \n \n RNS Number : 2225U\n Card Factory PLC\n 28 July 2020\n \n \n \n 28 July 2020\n Card Factory plc\n (\"Card Factory\" or the \"Company\")\n Trading Update and Capital Markets Day\n Card Factory, the UK's leading specialist retailer of greeting cards, dressings and gifts, is pleased to update the market on its trading performance and financial position.\n Store Reopening\n The Company undertook a phased approach to reopening stores, prioritising protection of colleagues and customers and taking account of local restrictions. An initial small phase was opened in a range of location types to test and adapt operations to Covid-secure social distancing and hygiene measures. Following positive feedback from both customers and colleagues, the store reopening programme accelerated as follows:\n \n \n \n From (date)\n \n \n Number of stores opened\n \n \n Locations\n \n \n Aggregate trading stores\n \n \n \n \n 15 June 2020\n \n \n 89\n \n \n Eng.\n \n \n 89\n \n \n \n \n 23 June 2020\n \n \n 218\n \n \n Eng.\n \n \n 307\n \n \n \n \n 26 June 2020\n \n \n 419\n \n \n Eng., RoI, NI\n \n \n 726\n \n \n \n \n 3 July 2020\n \n \n 253\n \n \n Scotland, Wales, Eng, RoI, NI\n \n \n 973 1\n \n \n \n \n 13 July 2020\n \n \n 33\n \n \n Scotland\n \n \n 1,006 1\n \n \n \n \n 24 July 2020\n \n \n 9\n \n \n Eng., Scotland\n \n \n 1,015\n \n \n \n \n 1. Aggregate number of stores trading reduced due to localised lockdown in Leicester area where 6 stores have been closed\n \n We currently have 1,015 of our 1,018 stores operating in accordance with Covid secure guidelines. In line with our continuous review of our stores estate, since the start of the financial year, 7 new stores have opened, 2 have relocated and 11 stores have closed. A further 4 stores are to be opened (where leases were entered into prior to the Covid-19 closures) and we anticipate c. 9 store closures, resulting in c. 1,013 stores by the end of the current financial year.\n Sales\n Sales realised from our stores have exceeded our initial expectations, with like-for-like sales since reopening down 21.6% (compared to an anticipated 50% reduction in the first month of reopening). Although the number of in-store transactions has fallen, reflecting footfall levels, the average spend has increased by 24.9%.\n Online sales from both...