Moonpig has reported its largest ever week of gross sales within the UK due to customers scrambling for Mom’s Day playing cards.
The listed retailer, which permits buyers to personalise playing cards and items, stated it now expects annual income for the yr ending 30 April to stay at £320m, regardless of beforehand warning that Royal Mail strikes haddisrupted commerce for the interval.
Nickyl Raithatha, chief government of Moonpig stated: “Right this moment’s replace is testomony to the resilience of our enterprise mannequin, as demonstrated by a document UK Mom’s Day.”
“Moonpig group’s main market positions, robust buyer retention, excessive profitability and strong money technology equip us to navigate all levels of the financial cycle.”
The corporate stated that whereas it stays conscious of the troublesome financial circumstances it nonetheless expects revenues to proceed rising.
The group has seen its share worth fall 40 per cent since final yr after it revealed it might concentrate on playing cards as an alternative of smaller items resembling flowers and sweets.
Russell Pointon, director of shopper at Edison Group, stated: “Regardless of the problem of Royal Mail strikes and the resumption of in-person purchasing within the wake of the pandemic, FY2023 has to date delivered broadly optimistic outcomes for Moonpig.
“Strategic investments in know-how and knowledge and a strong market marketing campaign have served to bolster the model’s revenue.
Furthermore, whereas the need of on-line purchasing could have handed, the market share afforded to Moonpig throughout the pandemic remains to be reinforcing the group’s model recognition.”