Questions, card Factory a profit warning blamed on adverse weather and “uncertainty around the consumer environment in the UK”

  • Questions, card Factory a profit warning blamed on adverse weather and “uncertainty around the consumer environment in the UK”
    Independent.t. E.
    Card factory shares fell after the retailer reduced its profit in extreme weather and weak consumer demand.
    https://www.independent.ie/business/world/card-factory-issues-profit-warning-blamed-on-adverse-weather-and-uncertainty-around-the-uk-consumer-environment-37199635.html
    https://www.independent.ie/business/world/article37199659.ece/ba725/AUTOCROP/h342/ipanews_04c824f9-fab1-498c-a970-596985922d34_1

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Card factory shares fell after the retailer reduced its profit in extreme weather and weak consumer demand.

Greeting cards and gifts retailer said it expects that the full-year underlying earnings to come in between £89 million and £91M, compared with previous forecasts of £93.5 m.

The company blamed the fall on bad weather and “uncertainty around the consumer environment in the UK” and said its current leadership will depend on its performance in the last three months of the year.

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Retailers have taken a hit in recent months, not only in connection with a cold snap brought the beast from the East in the early spring, but heat waves, which kept customers away from the main street.

The news sent the Factory map is divided by 7.4 PC in early deals.

Chief Executive card Factory Karen Hubbard said: “we continue to experience weak consumer environment, made all the more difficult under the influence of extreme this year, the weather conditions outside.

“The performance of our seasonal ranges were strong, with our best father’s Day, from the point of view of volume and value, although we understand there should be more attention in our daily ranges that are lagging behind in seasonal performance.

Card factory has released a warning in the trading update, which also detail the 0.2 PC fall as sales for the six months to 31 July, despite the “record” father’s day season, as weather and conditions consumer the trick.

The overall growth of the group’s sales also slowed to 3.2 PC 6.1 PC from a year earlier.

To get personal – it Department personalized gifts – got a 8.5 PC fall in sales, which the company blamed “tough price competition in the market.”

“Our key Q4 trading period will, of course, be crucial in determining the final result for the year, but we believe we are well positioned to deliver good performance in our important Christmas shopping season,” Ms. Hubbard said.

The company said it is still charging on the expansion plans after the opening of 25 new stores in the UK on a net basis in the first half.

He is on track to hit its target of approximately 50 new stores for the year.

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