Carpetright UK like-for-likes up 1.4% in fourth quarter
In the 12 weeks to 22 April, like-for-like sales in its Rest of Europe business, which includes The Netherlands, Belgium and Ireland, increased by 1.4% in local currency terms as the retailer continued to benefit from improving economic confidence and positive currency impact.
In a statement, Carpetright said it anticipates full year profit to be within the current range of market expectations, albeit towards the lower end.
Wilf Walsh, Carpetright chief executive, said: "In common with other retailers in the home improvement sector in the UK we have experienced tougher trading conditions over the last three months. Having said that, we are pleased to report continued like-for-like sales growth, with an increase of 1.4% in our fourth quarter.
"Trading in the Rest of Europe was in line with our expectations, underpinned by a continuing recovery in economic confidence, particularly in the Netherlands.”
During the quarter, Carpetright accelerated its UK store refurbishment programme which meant 188 stores were trading under its new brand identity by the period end. In addition, three new stores were opened in Liverpool, Leeds and Bath.
Walsh added: "Following a further acceleration of the investment programme in the final quarter we have completed 188 store refurbishments - surpassing our target of 150 stores, which represents over 40% of the UK estate. Despite the inevitable disruption factor, the performance of these refurbished stores has been encouraging giving us confidence to continue with the programme.”
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