2010-04-28 Trading Update
Carpetright plc Year End Pre-Close Period Announcement
Carpetright plc, Europe’s leading specialist carpet and floor coverings retailer, today announces an update on trading for the12 week period to 24 April and the second half of the financial year.
Highlights for the 12 week period from 31 January 2010 to 24 April 2010:
- Group sales rose by 4.9%1 and the store base decreased to 7032 at the period end.
- UK and Republic of Ireland sales rose by 6.8%, with like-for-like sales3 up 1.5%.
- A net eight stores have been closed, decreasing the total to 5862.
- In constant currency terms, in our continuing business in the Rest of Europe (The Netherlands and Belgium) total sales increased by 0.9% with like-for-like sales up 1.6%. After allowing for the movement in exchange rates, this translates to a total sales decline of 3.1%. The number of stores remained constant at 117.
- Our announced withdrawal from trading operations in Poland has been concluded successfully.
Lord Harris of Peckham, Chairman and Chief Executive, said:
“UK market conditions have continued to be difficult. Since our last trading update on 23 March, sales have been slightly below our expectations and we anticipate the year ahead to remain challenging.
“Our businesses in The Netherlands and Belgium continue to trade well and have now returned to like-for-like growth.”
Carpetright will make its results announcement for the financial year 2009/10 on Tuesday
29 June 2010.
29 June 2010.
Analyst conference call
Lord Harris will host a conference call for analysts at 8.15am
The dial in number is +44 (0)20 7806 1957 with the passcode 1541370
Thereafter, for further enquiries please contact:
Carpetright plc
Lord Harris of Peckham, Chairman and Chief Executive
Neil Page, Group Finance Director
Tel: 01708 802000
Citigate Dewe Rogerson
Kevin Smith / Angharad Couch / Lindsay Noton
Tel: 020 7638 9571
A copy of this trading statement will be available on our website www.carpetright.plc.uk today
from 7.00am
Notes
1. All sales figures are quoted after deducting VAT.
2. Excludes Sleepright within Carpetright locations.
3. Like-for-like sales represent sales from stores which have been trading for 52 weeks at the start of the financial year. It includes the sales of beds, where these have been introduced into the like-for-like store base since the acquisition of Sleepright in December 2008.
4. The Group will announce its results for the financial year 2009/10 on Tuesday 29 June 2010.
5. There have been no significant changes to the Group’s financial position during the period.
6. Certain statements in this report are forward looking. Although the Group believes that the expectations reflected in these forward looking statements are reasonable, we can give no assurance that these expectations will prove to have been correct. Because these statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward looking statements. We undertake no obligation to update any forward looking statements whether as a result of new information, future events or otherwise.
Carpetright plc Year End Pre-Close Period Announcement
