Carpetright Reports Significant Improvement in Q4 LFL Growth

Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today announces a trading update for the 12 week period to 20 April 2019.

Trading Update

- The Group's overall trading performance in the period was in line with expectations

-  The UK like-for-like sales trend improved significantly in the fourth quarter, compared to the year to date, as customer confidence in the business started to return following the Group’s restructuring last year

-  Trading in the Rest of Europe has continued to track ahead of the same period last year, driven by a strong performance in the Netherlands

- We remain on target to achieve the previously-announced £19m of annualised cash savings

Wilf Walsh, Chief Executive, said:

“This has been a transitional year for Carpetright and we remain on track both with our recovery plan and our strategic initiatives. The actions taken are driving improvement, particularly in the invested store estate, and the brand remains strong. Whilst consumer confidence remains challenged in the UK, the work we have done to reposition the business is starting to deliver the benefits necessary to put Carpetright back on the path to sustainable profitability.”

Carpetright will announce its results for the 52 weeks ended 27 April 2019 on 25 June 2019.

Source : Carpetright

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