Carpetright reports 6% rise in like-for-like sales over Christmas

Carpetright plc, Europe’s leading specialist carpet and floor coverings retailer, today announces an update on trading for the 12 weeks ended 23 January 2016.

Highlights

UK
* Sales in the four weeks to 23 January 2016, up 6.0% on a like-for-like basis.
* Sales for the twelve week period up 2.4% on a like-for-like basis. Total sales declined by
1.3%. (notes 1, 2, 3)
* Full year guidance of a decline in gross profit percentage revised to between 100 and 150 basis points to reflect a more promotional marketplace and a greater proportion of beds and smooth flooring in the sales mix.
* Four stores were opened and six closed during the period, leaving 436 trading locations.

Rest of Europe
* In local currency terms, like-for-like sales in the Rest of Europe (Netherlands, Belgium and the Republic of Ireland) increased by 4.2% on year. Total sales increased by 4.4%. After the impact of currency movements this translates to a 2.7% decrease in total sales.
* Two stores opened and two closed during the period, leaving 138 trading locations.
* The Group’s full year profit expectations are unchanged.

Wilf Walsh, Chief Executive, said:

“In the UK, we delivered our ninth consecutive quarter of like-for-like sales growth. While we saw some softening of like-for-likes in the pre-Christmas period, reflecting lower footfall, customer numbers recovered in the important January sale period. Our trading performance over the last four weeks, with like-for-like growth of 6.0% against exceptionally strong prior year comparatives, gives us confidence that the enhanced interest free credit offer and strong promotions launched on Boxing Day are hitting the spot with our customers. Like-for-like sales growth in our Rest of Europe business was better than expected as consumer spending continued to recover, particularly in the Netherlands and the Republic of Ireland.”

The Group will issue a pre-close update on Tuesday, 26 April 2016 and will report its preliminary results for the financial year ending 30 April 2016 on Tuesday, 28 June 2016.

View the full publication here.

Source : Carpetright Press Release
/www.carpetright.plc.uk