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Card Factory: our final Bonkers Bargain of 2020 (Updated)
Card Factory had a tough close to a pretty awful year and, as anticipated, the year end lockdown mean that banking covenants will be breached. However, the share price appears to reflect the most pessimistic of outlooks and with plenty of recovery potential in 2021 and beyond, our final Bonkers Bargain of 2020 still offers compelling recovery potential for the patient.
Greetings cards and gifts retailer, Card Factory (LON:CARD), a previous constituent of our Income Boosters portfolio, clearly faces a challenging short-term outlook. Its stores are currently closed and reduced footfall across the UK’s high streets following further lockdowns resulted in a disappointing sales performance over the key Christmas trading period.
Despite the financial pressures this could bring, the company appears to have a sound long-term recovery strategy. It is expanding its online presence, increasing partnership sales, cutting costs…
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