Factory card stock swamp, in which she blames weather for profit

  • Factory card stock swamp, in which she blames weather for profit
    Independent.t. E.
    Shares in card Factory fell by almost 10pc in trading on the London stock exchange yesterday after the greeting cards retailer lowered profit forecast.
    https://www.independent.ie/business/world/card-factory-shares-slump-as-it-blames-weather-for-profit-hit-37201445.html
    https://www.independent.ie/business/article37201444.ece/87ea9/AUTOCROP/h342/2018-08-10_bus_43152984_I1.JPG

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Shares in card Factory fell by almost 10pc in trading on the London stock exchange yesterday after the greeting cards retailer lowered profit forecast.

The group expects that the profit for the year will be in the range of £89 million £ 91M (€99m-€101m).

The company previously expected a profit of £93 million for the 12 months.

The company blamed “weak consumer environment” and “extreme weather conditions” for the projected decline in revenues.

In General, the group, which has stores in Number of areas including in Ireland, in Dublin, Naas, and of Ashbourne in County Meath, reported an increase in total sales of the group’s 3.2 PC over the six months to July 31.

However, as sales declined by 0.2 PC due to bad weather, and “weak” environment.

The group said it continues to experience momentum in Ireland, it is now seven trial stores are open.

“We continue to experience weak consumer environment, made all the more difficult under the influence of extreme this year, the weather conditions outside the high attendance,” said CEO Karen Hubbard.

The warning comes amid news that it is set to close 60 stores in another blow to the UK retail.

Hilco capital, the new owner of the home will next week detail plans to close about a quarter of its stores, threatening more than 1,000 jobs, according to “sky news”.

Sky news said Hilco, which has acquired the registration from the Australian group Wesfarmers for a nominal £1 in may is expected to outline proposals for the so-called company voluntary agreement (CVA), a restructuring that would close about 60 of 249 stores in Paris here. It is unclear whether 11 the company’s stores in here will be affected. It also has a number of shops in Northern Ireland.

Press Secretary Hilco declined to comment on the report.

A string of British store groups have either gone out of business or this year announced plans to close stores as they struggle with subdued consumer spending, rising labour costs, high taxes on business property and growing online competition.

Kvass, which will allow firms to avoid bankruptcy or administration have been adopted by retailers including fashion chain New look, floor coverings group carpetright website, and mother and baby products firm Mothercare UK.

Medtekhservis specializiruetsya at a discounted or under-performing assets.

He bought and eventually closed the site Xtra-vision in Ireland and HMV stores in the Republic of Ireland to leave the store in Belfast is opened.

Other companies she has invested in include pottery company Denby, the product of the manufacturer of the Kraus group and travel clothing company tilley Endurables. (Additional reporting Reuters)

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