Clinton Cards sees profits halved
"Clinton Cards has extended its banking facilities after reporting a big drop in half-year profits.
Clinton reported a pre-tax profit of £12.6m for the 26 weeks to 1 February, down 46% from the £23.3m it made for the same period a year earlier.
A £12m loan which had been due to be repaid in November will now be repaid over an extended period up until January 2012.
The firm has been hit by the consumer downturn and store closures.
Clinton said it was trading from 70 fewer stores, compared with a year ago.
The group currently trades from 1,030 stores, comprising 695 Clinton stores and 335 Birthdays shops".
Source: BBC News
Labels: Clinton Cards
posted by Cool Cards at
08:50
1 Comments:
It is such a shame to see Clinton Cards having difficulties. Their cards are such good quality, and I notice many of them are Printed in England, unlike the cheap 29p ones in shops like Card Factory or similar high street shops. I hate to think how these 'cheap' so called handmade cards are made --by poor workers being paid a pittance so people can buy a hand made card for under £1.00 I am setting uo a new website called www.sendmycard.co.uk and that's how I noticed how Clinton Cards were amongst the best quality on the high street (along with WH Smith). If anyone is interested,I have put a link to my site, where I try to have the same quality cards. Do cool cards sell to 'trade' people like myself? This could be useful as I need good quality cards. Cards hand written and posted
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