Carpetright UK like-for-like sales up 7%
Carpetrights like-for-like sales rose by 7% in its second quarter after its continued focus on promotional activity helped deliver growth.
In the 11 weeks to 11 October, total sales rose by 5.7%.
Carpetright chief executive Wilf Walsh, said: "I am pleased to report that the group's trading performance improved year-on-year during the second quarter. In the UK our continued focus on effective promotional activity has delivered solid sales growth throughout the period, with like-for-like growth broadly in line with the level experienced in the first quarter.”
During the period, Carpetright opened six stores and closed ten in the UK to give a total of 463 stores now trading. 290 of the stores have now been modernised.
Meanwhile, like-for-like sales in the Rest of Europe, which includes the Netherlands, Belgium and the Republic of Ireland, decreased by 0.5% year-on-year in local currency terms. Total sales declined by 0.8%. After the impact of currency movements this translated to a 7.9% decrease in total sales.
Walsh said: "Trading across our Rest of Europe business has continued to improve with a further reduction in the rate of sales decline, arresting the very significant fall seen over the last 30 months, particularly in our Netherlands business.
“We expect this, along with an improvement in gross profit margin and a reduction in operating costs, will result in our businesses in the Netherlands and Belgium to be profitable for the first half of the financial year compared to the trading loss experienced in the prior year."
The company said trading in the year to date remains in line with management's expectations and that its full year profit expectations are unchanged.
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