Card Factory posts increase in sales in first nine months of 2015

Greeting cards and gift retailer Card Factory has reported an increase in sales during the first nine months of the year, thanks to a strong performance across the board.

In the nine months to 31 October, the FTSE 250 group said total sales grew 7.9% year-on-year, expanding at a slightly slower pace than the 8.7% growth recorded in 2014.

The company opened 45 net new stores in the period compared with 48 in the corresponding period 12 months earlier and said both of its transaction websites, Card Factory and Getting Personal, reported further progress.

"We have seen another period of consistent performance across the group as we continue to drive growth from existing and new stores, as well as our expanding online operations,” said group chief executive Richard Hayes.

"We are well prepared for the important, competitive Christmas period, and remain confident of our ability to continue to increase market share whilst delivering on all four pillars of our growth strategy."

Card Factory shares were down 1.08% to 359.29p at 0812 GMT on Thursday.