- Greeting card retailer Card Factory said on Thursday it would swing to an annual loss and risks breaching its covenants at the end of this month as the COVID-19 pandemic continues to roil the retail industry.
The company said it expected to report a yearly loss before tax of about 10 million pounds ($13.65 million), compared with a profit before tax of 65.2 million pounds a year earlier.
However, online sales continued their strong run, with a like-for-like sales growth of 137% in the 11 months to December.
($1 = 0.7328 pounds)
(Reporting by Aniruddha Ghosh in Bengaluru; Editing by Ramakrishnan M.)