Card Factory PLC

Card Factory has reported a 5.3% rise in revenue to £260.8 million for the six months to July 31, even as pressure on UK consumers weighed on its high street stores. The retail chain, which runs 1,126 shops across the UK and Ireland, said digital sales jumped by £12.8 million, driven by the £24 million acquisition of Funky Pigeon from WH Smith in July, helping offset a 0.7% revenue decline in its main stores business. Like-for-like store sales fell 2%, partly offset by the opening of 23 new stores over the past year, while store sales in the Republic of Ireland rose 24.3% year-on-year on continued expansion there. Adjusted pre-tax profits slipped slightly to £12.7 million from £13.2 million a year earlier, and chief executive Darcy Willson-Rymer said the half-year represented further progress in becoming a broader, more diversified business across the gifting and celebrations market. Card Factory said it has been encouraged by trading since the end of July, with UK like-for-like store sales returning to growth in recent weeks, and shares in the company were up 2.5% at 74.5p.