Carpetright's UK LFL sales up 7.5%

Carpetright plc, Europe’s leading specialist carpet and floor coverings retailer, today announces an update on trading for the 13 weeks ended 24 January 2015.

Highlights

UK
o Like-for-like sales (note 2) in the UK increased by 7.5%. Total sales increased by 6.6%.
o Full year guidance of a decline in gross profit percentage of between 100 and 150 basis points remains unchanged.
o Two stores were closed during the period, leaving 461 trading locations.

Rest of Europe
o In local currency terms, like-for-like sales in the Rest of Europe (Netherlands, Belgium and the Republic of Ireland) increased by 1.7%. Total sales declined by 0.8%. After the impact of currency movements this translates to a 6.0% decrease in total sales.
o Full year guidance of an increase in gross profit percentage of around 250 basis points remains unchanged.
o Two stores closed during the period, leaving 137 trading locations.

Full year expectations are unchanged.

Wilf Walsh, Chief Executive, said:

“I am pleased to report that the Group’s trading performance improved year-on-year during the third quarter.

“In the UK our continued focus on effective promotional activity and the introduction of an interest free credit offer from Boxing Day has delivered a like-for-like performance slightly ahead of the level experienced in the first half. Sales in our Rest of Europe business have also continued to improve.

“Trading remains in line with management's expectations and our view for the year as a whole remains unchanged.”

The Group will issue a pre-close update on Tuesday, 28 April 2015 and will report its preliminary results for the financial year ending 2 May 2015 on Tuesday, 30 June 2015.

Source : Carpetright PLC
http://www.carpetright.plc.uk/press/archive/2015-2015-01-27interim-management-statement