Carpetright making moves to improve5 Jun 2019 16:09
Carpetright (CPRC.L) more signs of positive recovery Carpetright reveals new partnership with Furniture Village and opened its first concession with the British furniture retailer.The new concession is among the carpet retailer’s other concessions in the UK which can be found in Morleys, Pearson’s, Barkers, Atkinsons and Browns.It recently terminated its partnership with home and DIY retailer Homebase.Carpetright chief executive Wilf Walsh said: “It has been great working with the Furniture Village team in getting this brand-new concession up and running, and we are thrilled to be opening our first concession with them.”Furniture Village chief executive Peter Harrison said: “As one of the UK’s largest general furniture retailers which already service most rooms in the home, it makes good sense that we should explore further ways of extending our product offering.”Carpetright on verge of bouncing back as CVA begins to bear fruit.Carpetright has said its UK like-for-likes had “improved significantly” in its final quarter, as a CVA that resulted in a major restructure and store closures begins to bear fruit.The retailer said its overall trading performance in the 12 weeks to April 20 was in line with expectations, where UK “like-for-like sales trend improved significantly” compared with the financial year to date, as “customer confidence in the business started to return”.Carpetright added that it was expected to hit its annualised £19 million cash savings. “This has been a transitional year for Carpetright and we remain on track both with our recovery plan and our strategic initiatives,” chief executive Wilf Walsh said.