In the year to date, revenues at Card Factory (CARD) are up 3.4 per cent thanks to a slew of new openings. But growth is slowing across the existing estate, which has been reflected in a flat like-for-like sales performance over the nine months ending 31 October 2018. So far, Card Factory has opened 41 out of a planned 50 new sites this year, despite online growth being significantly faster – up 71 per cent over the same period.
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For now, management has maintained full-year guidance for cash profits of between £89m and £91m, following downgrades in mid-August.
