Moonpig has reported its largest ever week of gross sales within the UK because of customers scrambling for Mom’s Day playing cards.
The listed retailer, which permits buyers to personalise playing cards and presents, stated it now expects annual income for the 12 months ending 30 April to stay at £320m, regardless of beforehand warning that Royal Mail strikes haddisrupted commerce for the interval.
Nickyl Raithatha, chief govt of Moonpig stated: “At present’s replace is testomony to the resilience of our enterprise mannequin, as demonstrated by a file UK Mom’s Day.”
“Moonpig group’s main market positions, sturdy buyer retention, excessive profitability and strong money era equip us to navigate all phases of the financial cycle.”
The corporate stated that whereas it stays aware of the troublesome financial circumstances it nonetheless expects revenues to proceed rising.
The group has seen its share value fall 40 per cent since final 12 months after it revealed it might concentrate on playing cards as a substitute of smaller presents similar to flowers and candies.
Russell Pointon, director of client at Edison Group, stated: “Regardless of the problem of Royal Mail strikes and the resumption of in-person buying within the wake of the pandemic, FY2023 has to this point delivered broadly constructive outcomes for Moonpig.
“Strategic investments in know-how and information and a strong market marketing campaign have served to bolster the model’s revenue.
Furthermore, whereas the need of on-line buying might have handed, the market share afforded to Moonpig in the course of the pandemic continues to be reinforcing the group’s model recognition.”