THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Carpetright sees no respite from 'challenging' market

Lord Harris, chairman and chief executive of struggling Carpetright, has said that he is confident that the business will emerge in a strong position, despite the challenging market and profits being substantially reduced.

CITY & CORPORATE

Carpetright sees no respite from 'challenging' market

Lord Harris, chairman and chief executive of struggling Carpetright, has said that he is confident that the business will emerge in a strong position, despite the challenging market and profits being substantially reduced.

Carpetright reported a 1.5% drop in group sales in July after issuing three profit warnings earlier in the year. 

At the group’s AGM yesterday Lord Harris said: “In the year to 30 April 2011 we continued to experience challenging market conditions with fragile consumer confidence producing a weak floor coverings market.

“The group remained profitable and generated cash, although profits for the year reduced substantially.

“Looking forward I see no respite from the challenging environment over the next year, but remain confident the group will emerge in a strong position to deliver future growth once consumer demand improves.”

In a separate statement,  Carpetright said that Darren Shapland had rejoined the group as a non-executive director.

Shapland was Carpetright's group finance director from 2002 to 2005. Most recently, he was an executive director of Sainsbury’s and will continue in his role as the chairman of Sainsbury's Bank plc. 

Lord Harris said:"I am delighted that Darren has agreed to join Carpetright's board as a non-executive director.  He was an outstanding finance director when he was with us before and his subsequent success at Sainsbury's speaks for itself."

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues