Card Factory expects full year performance to be 'materially ahead' of previous expectations

The retailer Card Factory has revealed that it expects its full year financial performance to be “materially ahead” of its previous expectations.

In a trading update, following the close of the first half to July 31 2023, Card Factory said the positive start to the financial period, highlighted at the preliminary results, had continued.

The statement added: “Trading in the first six months was materially ahead of the board's expectations. The macro backdrop continues to be uncertain, and there is still much to be delivered over the remainder of the year.

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"Nevertheless, given the strength of the performance in the first half, together with our current outlook for the second half, the board now expects the full year outturn to be materially ahead of its previous expectations.​​​​​​​​​​​​​​”

Card Factory, which opened its first store in Wakefield in 1997, now has around 1,000 stores in the UK and Ireland.