Christmas cards cheer embattled Clinton

Sales at Clinton Cards inched back into positive territory for the first time in more than a year over Christmas, sending the embattled greeting card retailer's shares up by nearly 10%.

But industry experts cautioned against calling a recovery at the company, which posted a
£10.7 million loss during its last financial year.

Darcy Willson-Rymer, the former head of Starbucks UK, claimed he had driven a "single-minded focus on the customer" since he became the group's chief executive in October, adding: "Our Christmas trading update recognises the positive impact on this approach."

Group like-for-like sales rose by 0.4% over the five weeks to January 1, although it was helped by being up against falling sales for the snow-affected same period last year.

Its core Clinton chain delivered a 0.8% increase in sales, but they dropped by 2.7% at the group's Birthdays shops in the UK over the Christmas period.

The update lifted its shares by 1p, or 9%, to 12p.
Despite this, Clinton's shares are still down nearly a quarter since the first week in November.

Simon Chinn, the lead consultant at Conlumino, said: "It is too early to say whether this mildly positive result is a consequence of the changes made to date, or are merely driven by a very weak comparative last year."

Willson-Rymer is undertaking a strategic review covering Clinton's customer service in stores, business efficiencies and its website.

He is also examining its portfolio of 771 shops, which industry experts expect him to cut substantially.