Shares in Card Factory dropped 8 per cent after it announced weak consumer spending amid weak traffic and dwindling UK consumer confidence on the British high street.
Chief executive Karen Hubbard said: “We continue to experience a weak consumer environment, made all the more challenging by the impact of this year’s extreme weather conditions on high street footfall.
“Our key fourth quarter trading period will of course be critical in determining the final result for the year, but we believe we are well positioned to deliver a good performance in our important Christmas trading season.
“The performance our seasonal ranges has been strong, with our best ever Father’s Day in terms of volume and value, although we recognise there has to be more focus on our everyday ranges, which have lagged the seasonal performance,” she added.
The greeting cards company has struggled over the past year.
Leave a Comment