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Card Factory special dividend under threat

Card Factory special dividend under threat

Any optimism generated at the time of Card Factory’s (CARD) full-year results announcement in April has been duly erased by the release of a less-than-inspiring second-quarter trading statement. While analysts at Peel Hunt described the update as “no disaster in sales terms”, a like-for-like contraction of 0.2 per cent in the top line contradicts management’s confident overtures about Valentine’s Day, Mother’s Day and Father’s Day – trading around which bosses described as record-breaking. Concerns are mounting about everyday trading, where volumes – particularly in store – appear to be under significant pressure. Getting Personal, the group’s personalised gifting service, performed particularly poorly, with sales there down 8.5 per cent.

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