Greetings card retailer Card Factory reported a year of strong growth and said it plans to open around 50 new stores this year.
The Wakefield-based group said like-for-like sales rose 1.8 per cent in the 11 months to December 31 despite tough comparatives with the previous year.
The firm said it is trading in line with expectations and that it would reduce its net debt significantly and more than had been expected.
A total of 51 new stores opened last year, bringing the number of the firm’s shops to 764.
The group also reported strong growth in its online division, Getting Personal, with double digit revenue growth since the half year stage.
The group’s CEO Richard Hayes said: “It is pleasing to report that the group continues to perform well, has had a solid Christmas trading period and is on course to deliver sales growth at a similar level to the previous year.”
The group not only sells cards, but manufactures many of them as well, giving it far more control and cutting out the middle man.
The company said that Paul McCrudden, EMEA head of content marketing at Twitter, has now joined the board as an independent non-executive director.
The group said Mr McCrudden will bring a wealth of digital and marketing experience that will be particularly helpful as it develops its online activities.