reports
- Kate Heseltine
Card Factory - Delivering on partnership growth strategy
Card Factory’s (CARD’s) acquisition of a designer and wholesaler of gifts and celebrations essentials in the US, the largest global market, is in line with its strategy of increasing international reach. The acquisition establishes its physical footprint in the market and complements its existing wholesale supply partnership in 1,100 stores. In addition, CARD has provided a reassuring trading update, albeit with the peak Christmas trading period in the next few weeks. Ahead of the trading update...
Card Factory: 1 director
A director at Card Factory bought 21,244 shares at 94p and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showin...
- Kate Heseltine
Card Factory - Confident on FY25 outlook
Card Factory’s H125 revenue growth demonstrated it is delivering well against its multi-year growth strategy. While profitability was negatively affected by the (mostly) known inflation in operating costs, management is confident Card Factory will achieve its full-year estimates. This is due the momentum in the business and the mismatch in H125 between cost inflation and the efficiency and cost savings that have always been expected to come through in H225.
Edison issues report on Card Factory (CARD)
Edison Investment Research Limited Edison issues report on Card Factory (CARD) 18-Jun-2024 / 09:18 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 18 Juni 2024 Edison issues report on Card Factory (CARD) to view the full report. All reports published by Edison are available to download free of charge from its website Edison is authorised and regulated by the . Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more info...
- Kate Heseltine
Card Factory - Look inside the card
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 opp...
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
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- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - Much more to come
The strategy to deliver £190m of additional revenue (FY23-27E CAGR +8.8%) and +3.5ppt of PBT margin by FY27E is based on clear self-help to expand in celebration essentials, leverage stores and integrate digital throughout the offer. International partnerships are expected to drive c.45% of the additional sales, scaling rapidly towards FY27E. The growth plan is self-funded from internally generated cash and is 100% down to management’s execution, with no reliance on further market recovery. The ...
- Liberum Research Team
- Liberum Research Team
- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - A lot to like; remains a top pick
The in-line prelims reflect the strong recovery in profitability (noting three upgrades since November) and FCF generation. Combined with good progress across all pillars of the strategy, including significant new retail partnerships, this has given management confidence to aim for revenue of £650m by FY27E (a very robust c.9% CAGR) on a PBT margin of c.14%, representing a return to pre-pandemic margins. It provides confidence that there is much more to come as Card Factory continues to transiti...
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - Acquisition brings more good news
CARD has acquired SA Greetings, a wholesaler of cards and gift packaging in South Africa for £2.5m in cash. This is an encouraging signal of intent, marking the first new retail partnership under the new management team and entry into a new international market of scale. The news follows the trading update earlier this week, which raised FY23E profit guidance for the third time since November, and means we have now raised our FY23E adj. PBT by c.80% in total. The shares are cheap: CY23 PER 10.9x...
- Liberum Research Team
- Liberum Research Team
- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - Yet more upgrades; remains a top pick
CARD has announced that FY23E results will be ahead of expectations with sales £463m, EBITDA at least £112m and PBT at least £52m. This is the third material profit upgrade since mid-November (c.9% on our forecasts) and means we have now upgraded by c.80% in total. It provides growing confidence that there is much more to come with the business now on a firm footing, with a strengthened management team, and momentum continuing to build as it transitions from a store-based card retailer into a le...
- Liberum Research Team
LIBERUM: Analyst Best Ideas - Most & Least Preferred Ideas from Liberu...
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