You're invested in Card Factory? Wut? What's your reasoning there?
(Before the current crisis):
1. Clinton’s is going out of business, CF will hopefully pick up some of their sales.
2. Vertically integrated business; they produce their own product, and are not reliant upon business decisions of others.
3. They’re rolling out their product in Aldi, and in a retailer in Australia.
4. In times of austerity, people like to mark an event, but may have less money to spend so just send a card / are unlikely to go to the higher end card shops.
5. Dividend was healthy.
6. Ever walked by a quiet CF shop?
7. Their LFL sales over Christmas were only down -0.3 or something percent, suggesting resilience in a tough market.
8. They have an expanding online business.
9. I feel the management have made good decisions historically and I have some faith in them. Their product line is robust. Research doesn’t suggest that card-giving is falling out of favour. Old people send cards and, oddly, so do millennials. I don’t understand it myself, but them’s the facts.
Of course, this was 9k ago...! It’s only a little bet with them really, I’ll be mad if they go bump, but then again this crisis may make other HS shops disappear - even those doing well before the closures.