Carpetright reports 0.8% like-for-like sales growth
Published: 24 October 2017 - Sue Deane
Carpetright has announced total Group sales are up by 1.8% in its trading update for the 25 weeks ended 21 October 2017.
In the UK there was like-for like sales growth of 0.8%, with an increase of 2.1% within the flooring category, offset in part by reduced bed sales.
A further 21 stores converted to the new brand identity with more than half the estate now refurbished. Two stores were opened and nine closed in the year to date, leaving a total of 419 UK stores as well as trading from 136 stores overseas. All stores collectively made 14.4 million pounds in 2016-17, equaling to a 21% decline.
Chief executive Wilf Walsh said: “While trading conditions in the UK remained volatile over the first half, the 2.1% increase in like-for-like sales in our core flooring category is pleasing given the increased level of competition. Total UK like-for-like sales in the period were impacted in the short term by our decision to accelerate the re-ranging activity in our beds business.
“Sales in our Rest of Europe business have been equally volatile but we have been encouraged by more recent like- for-like sales growth, in part reflecting the strong post-refurbishment performance of the 25 rebranded stores we have now completed.
“While we expect the Group first half profit to be below that of the prior year, we are pleased with the improvement in sales in the Rest of Europe and beds in the UK over the past few weeks. When these are combined with continued progress in our core flooring category we expect a significantly stronger second half with full year profit within the current range of market expectations.
“We look forward to updating our shareholders on the progress in our plan and momentum in the business at our first half results presentation in December.”