Moonpig has reported its largest ever week of gross sales within the UK because of shoppers scrambling for Mom’s Day playing cards.
The listed retailer, which permits buyers to personalise playing cards and presents, mentioned 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 mentioned: “Immediately’s replace is testomony to the resilience of our enterprise mannequin, as demonstrated by a report UK Mom’s Day.”
“Moonpig group’s main market positions, sturdy buyer retention, excessive profitability and sturdy money era equip us to navigate all levels of the financial cycle.”
The corporate mentioned 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 could give attention to playing cards as an alternative of smaller presents corresponding to flowers and candies.
Russell Pointon, director of shopper at Edison Group, mentioned: “Regardless of the problem of Royal Mail strikes and the resumption of in-person buying within the wake of the pandemic, FY2023 has thus far delivered broadly optimistic outcomes for Moonpig.
“Strategic investments in expertise and information and a strong market marketing campaign have served to bolster the model’s revenue.
Furthermore, whereas the need of on-line buying could have handed, the market share afforded to Moonpig through the pandemic continues to be reinforcing the group’s model recognition.”