Snow hits Carpetright sales

In the UK and Republic of Ireland like-for-like sales rose 2.3% while total sales increased 7.7%.

In its European arm – the Netherlands and Belgium - like-for-likes dipped 3.7% while total sales declined 5.1%. Allowing for the impact of exchange rates, revenue increased 5.4%.

The retailer’s exit from Poland continues and it expects to complete this by year end.

Carpetright chairman and chief executive Lord Harris of Peckham said:  “We are pleased with our overall performance during the period and believe our continued growth demonstrates the resilience and strength of our business plan. 

 “In the UK, trading in the early part of the quarter was strong and we experienced double digit like for like growth.  The severe weather conditions post-Christmas impacted the final weeks of the quarter but we are hopeful of recovering some of this lost trade in the coming weeks.

 “Our new revenue streams from housebuilding and insurance customers are generating incremental business and we expect this to grow in future periods.

“We believe we continue to grow market share in our businesses in The Netherlands and Belgium. Whilst we remain cautious about economic conditions in these markets, our businesses have recently demonstrated signs of a recovery in sales performance.

“Whilst we remain cautious about our market in the balance of the financial year, we continue our drive for sustained growth and our expectations for the full year are unchanged.”