Moonpig studies potent trading, inspite of opposition from substantial road

Moonpig reports strong trading, despite competition from high street

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nline greeting playing cards retailer Moonpig has upgraded its sales outlook, boosted by higher buyer desire even as high street rivals reopened outlets.

The FTSE 250 corporation, which also sells items, noticed solid progress through the pandemic when card shops experienced to briefly shut for Covid-19 lockdowns.

‘Non essential’ vendors were allowed to reopen from the most latest restrictions in April.

Moonpig stated that investing because April has “been strong”. It additional: “Frequency continues to be elevated adhering to a restricted modify in shopper mobility by way of the summer time, even with the lifting of lockdown limits.”

The retailer now expects revenues in the calendar year to April 2022 to be involving £270 million and £285 million. It experienced formerly guided £250 million-£260 million.

The firm reported it has invested at a bigger amount in the lengthy-time period progress motorists of the company, which include marketing exercise to “drive strategic levers such as app downloads and shopper reminder setting”.

Moonpig, which is led by Nickyl Raithatha, floated at 350p per share in February.

Analyst Andrew Wade at Jefferies mentioned: “This seems an encouraging start off to FY22.”