Carpetright like-for-likes plummet

The carpet specialist blamed the fall on the lowest levels of consumer confidence and mortgage approvals since records began.

Carpetright’s group sales dropped 9.2 per cent, while UK and Republic of Ireland plummeted 14.8 per cent.

Carpetright chairman and chief executive Lord Harris of Peckham said: “The trading environment in the UK has become more difficult and we can see this continuing for the rest of our financial year. However, we believe our recent operational improvements enhance our resilience to challenging market conditions and that our strong competitive position will enable the business to continue to grow market share.”

In the Rest of Europe – the Netherlands, Belgium and Poland – Carpetright recorded flat like-for-likes, while sales in local currency increased 8.2 per cent.

Carpetright, which operates 559 stores in the UK and Republic of Ireland, said group gross margin continues to improve.

In June, Carpetright completed the €7.8 million (£6.2 million) acquisition of the trade and assets of Ben de Graaff Tapijt, a floor coverings retailer in the south of the Netherlands, bringing the store count in the Rest of Europe to 127 stores.

Carpetright is also searching for properties in Germany.