Clinton Cards warns of challenging times
Published Date:
13 October 2008
BRITISH retailer Clinton Cards reported a pre-tax loss of £13.1m($22.64 million) and said 2009 trading would be challenging due to weakening consumer confidence and reduced footfall at its stores.
The greeting cards retailer's pre-tax loss compares to a £15.1m profit last year after a £30m impairment charge made at its Birthdays brand.
The group delivered an operating loss of £9.6m compared to an operating profit of £18.5m.
The company's adjusted pre-tax profit was £19.5m in the year to August 3 up from £17m last year, on group revenue of £465m.
Sales at Clinton Cards branded stores increased to £357.5m from £353.6m, while sales at Birthdays shops were roughly flat at £107.5m.
Like-for-like sales for the group during the year increased 1.3 per cent with the Clinton brand jumping 0.7 per cent and Birthdays by 3.5 per cent, said the group.
The full article contains 164 words and appears in n/a newspaper.
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Last Updated:
13 October 2008 9:24 AM
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Source:
n/a
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Location:
Yorkshire
