Card Factory

Overview
Price performance
Financials
Research
Thematics

Card Factory is the UK’s leading specialist retailer of greeting cards, gifts and celebration essentials. Its UK and Ireland customers are served via an extensive store estate and digital channels. Partnerships and franchises provide further access to UK and international customers.

The UK greetings card market is very fragmented, with competitors including specialist chains, grocery chains, other generalists and online operators. CARD’s value for money proposition versus its competitors is well understood by the UK consumer. The single card market is described as resilient. Historically, it has been low growth, with volume declines being offset by price growth.

Latest Insights

Consumer |
Initiation

18.06.24

Card Factory — Look inside the card

Consumer |
edison tv

18.06.24

Card Factory – executive interview

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Sector

Consumer

Equity Analyst

Russell Pointon

Director of Content, Consumer and Media

Milo Bussell

Analyst, Consumer and TMT

Key Management

Darcy Willson-Rymer

CEO
Matthias Seeger

CFO

Balance Sheet

Forecast net debt (£m)

16.5

Forecast gearing ratio (%)

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(9.3)	2.2	5.9
Relative	(8.2)	(1.4)	(4.4)
52 week high/low	113.4p/85.6p

Financials

Card Factory (CARD) is aiming to become the leading omnichannel retailer of greeting cards, gifts and celebration essentials in the UK as well as select international markets. In the UK, its extensive and growing store base has been reconfigured to accommodate enhanced product ranges, and its online capabilities have been revamped. Each of these provides the foundations for greater growth in isolation and for new omnichannel propositions. Management expects to complement its UK retail growth opportunities with significant growth from building out its international brand presence via capital-light partnerships, as it has in the UK.