Clinton Cards braced for tough year

Clinton Cards has warned it expects a further fall in sales after posting a 70% plunge in half-year profits today.

The greetings card and gift retailer said the tough retail environment would continue to hit trade in 2011 and that it expected a “low single digit percentage decline” in sales in the second half of the financial year.

Clinton, which employs 8,500 staff, hopes a new website, redesigned stores and key trading periods such as Mother’s and Father’s Day will offer some support to the business.

The warning came as the retailer, which also owns the Birthdays brand, reported pre-tax profits of £11.7m (€13.5m) in the 26 weeks to January 30, compared to £19.9m (€22.9m) the previous year.