Mixed summer performance for Carpetright
The country’s largest flooring retailer has seen a mixed performance across May and June.
Like for like sales dropped by 7.6% in May but were 6.3% higher in June, resulting in a 1% drop in the eight weeks to 25 June.
‘Trading conditions in the early weeks of the new financial year have been more challenging, against strong comparatives in the prior year and in a market which is increasingly competitive, particularly in the UK. The outlook has been further complicated by the outcome of last week’s referendum and we are cautious about the impact the associated uncertainty will have on consumer confidence,’ says Wilf Walsh, Carpetright ceo.
Like for like UK sales rose by 2.8% in the year to 30 April, with total sales down 1.5% at £391m. Underlying UK operating profit was up £17.5% at £16.8m.
‘I am pleased to able to report on another year of significant progress. The Group has again delivered solid growth in profit, accompanied by consistent like-for-like sales growth in both the UK and Rest of Europe, whilst establishing real momentum with its plans to update and revitalise its business,’ says Walsh.
The chain will begin a limited rollout of its concept format to 90 branches next month.