Flooring retailer weathers tough winter climate
Winter trading was tough for Carpetright, which reported a decline in like-for-like sales over the season. Total sales increased 0.5 per cent during the period from October 31 last year to January 29 this year. Like-for-like sales fell 3.8 per cent, although the retailer was at pains to mention that gross margin had increased at the same rate achieved in the first half of its fiscal year.
The retailer announced the sale of a freehold property in Croydon, which will net Carpetright a profit of more than£7 million. It also highlighted the success of its InHouse Carpets concessions at 39 Allders stores. It stated that trading was continuing and confirmed that deposits and pre-administration orders will be honoured.
Commenting on trading for the period, Carpetright chairman and chief executive Lord Harris of Peckham said: 'Our UK and Republic of Ireland business has had a tough January Sale, albeit set against very strong comparatives last year. While trading continues to be subdued in all the markets in which we trade, we are confident we will continue to grow market share.'
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