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GROWTH IN ONLINE SALES FOR CARD FACTORY FOLLOWING LOCKDOWN!

06 May 2020

High street gift card retailer Card Factory has reported growth in online sales following the Covid-19 outbreak and is currently working on changes to store operations in preparation for reopening following the end of lockdown.

In a trading update, the listed group said the Cardfactory.co.uk web site had recorded sales growth of 267.5 per cent since the lockdown with Gettingpersonal.co.uk at 57.5 per cent.

In response to this increased demand, and to support social distancing, Card Factory has established a second fulfilment unit in Wakefield.

The company's high street shops remaining closed with its store colleagues furloughed under the government's Coronavirus Job Retention Scheme.

In preparation for re-opening, it is working on changes to store operations to help ensure colleague and customer safety. Card Factory expects to be able to facilitate appropriate social distancing in the majority of stores.

The company has an existing £200m revolving credit facility in place and has received confirmation from the Bank of England that it will be able to access additional funding under the Covid Corporate Financing Facility.

The Card Factory Foundation has also established a relief fund for our colleagues who are experiencing financial hardship.

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