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Card Factory PLC on Tuesday hit revised guidance for adjusted profit and launched a new share buyback as it grapples with low consumer confidence and uncertain markets. The Wakefield, England-based greeting cards, gifts and celebration merchandise retailer said pretax profit fell 32% to £43.9 million in the financial year to January from £64.1 million the year prior. Chief Executive Darcy Willson-Rymer said: ‘Softer high street footfall in the second half, particularly during our peak trading period, impacted full-year performance, with adjusted pretax profit being delivered in line with our revised guidance.’ Adjusted pretax profit fell 15% to £56.0 million from £66.0 million on-year. Back in December, Card Factory said it expected adjusted pretax profit of between £55 million and £60 million for financial 2026, cutting its outlook from roughly £70 million. Revenue increased 7.4% to £582.7 million from £542.5 million, supported by positive contributions from acquired businesses. Total store sales growth of 1.5%, included 27 net new stores year-on-year. Like-for-like store sales fell 0.2% with higher average basket values, offset by fewer transactions due to low consumer confidence. For financial 2027, Card Factory expects new store openings to continue at a similar rate. By category, LFL sales fell 0.9% in cards, with gifts down 1.9%, while celebration essentials grew 1.7%. Basic earnings per share fell 35% to 9.0 pence from 13.8p, or by 17% to 11.8p on an adjusted basis from 14.3p. Looking ahead, Card Factory expects adjusted pretax profit in financial 2027 to be in line with the current market consensus of £58.2 million, so slightly higher than the year just ended. CEO Willson-Rymer said the external environment remains ‘uncertain’. Nonetheless, total sales, excluding Funky Pigeon, through the first three months of the current financial year are in line with the same period in the prior year, it said. The dividend was increased by 4.2% to 5.0p per share from 4.8p a year ago. In addition, Card Factory said a £15 million share buyback will start immediately. The programme is due to run up to the end of January next year. Shares in Card Factory were flat at 66.30 pence each in London on Tuesday around noon. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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