StockMarketWire.com - Card Factory warned on profit following a 'challenging' Christmas as the general election and weak consumer sentiment added to the ongoing decline high street footfall.

Reflecting the softer than anticipated Christmas trading period, the company said it now expected that fiscal 2020 adjusted underlying earnings (EBITDA) would be in the range of £81m to £83m.

The company also warned the weaker high street backdrop would continue to hurt performance, with the net impact of market headwinds on fiscal 2021 adjusted underlying EBITDA likely to be in the range of £5m to £10m. Like for like sales for the eleven months to December declined by 0.6% on-year, while revenue year total revenue rose 3.6%.

During the period, the company opened 47 new stores, bringing the total estate to 1,019 stores.


At 8:06am: [LON:CARD] Card Factory Plc share price was -22.85p at 117.25p



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