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 customers 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: “At this time’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 sturdy money era equip us to navigate all phases 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 value fall 40 per cent since final yr after it revealed it might deal with playing cards as a substitute of smaller items corresponding to flowers and goodies.
Russell Pointon, director of client 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 information 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 through the pandemic remains to be reinforcing the group’s model recognition.”