5 Aug 2008 07:00
Carpetright plc
Interim Management Statement
Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today publishes its Interim Management Statement for the first 13 weeks of its financial year, representing the trading period from 4 May to 2 August 2008.
Group sales decreased by 9.2%, with the store base at 686 stores by the period end.
Our business in the Rest of Europe (The Netherlands, Belgium and Poland), continues to make good progress, with sales in local currency improving by 8.2%, with like-for-like sales in local currency flat. Gross margin in these territories has continued to improve. On 30 June 2008, we completed the €7.8 million acquisition of the trade and assets of Ben de Graaff Tapijt, a floor coverings retailer in the south of The Netherlands. This acquisition brings the store base in the Rest of Europe to 127 stores.
There have been no significant changes to the financial position of the Group since the publication of the Preliminary Results on 1 July 2008.
Lord Harris of Peckham, Chairman and Chief Executive, said:
"As expected, our UK and Republic of Ireland business has had a demanding first quarter, particularly by comparison to what was our strongest quarter last year, and against a background of the lowest levels of consumer confidence and mortgage approvals since records began. Our businesses in the Rest of Europe have, however, continued to make solid progress."
The Group will report its pre-close trading update for the first half of its financial year on 28 October 2008.
Analyst conference call
Lord Harris will host a conference call for analysts at 08.15am this morning.
The dial in number is +44 (0) 20 3003 2666, with a password "Carpetright".
Thereafter, for further enquiries please contact:
| Carpetright plc | |
| Lord Harris of Peckham, Chairman and Chief Executive | |
| Jason Grover, Interim Group Finance Director | Tel: 01708 802000 |
| Citigate Dewe Rogerson | |
| Kevin Smith / Angharad Couch | Tel: 020 7638 9571 |
Carpetright plc
Interim Management Statement
| 2008/2009 | 2007/2008 | ||
| Store Base - Numbers | 2 August 2008 | 3 May 2008 | 27 October 2007 |
| UK & RoI Carpetright Concessions Storeys | 461 60 38 | 460 61 38 | 445 66 35 |
| 559 | 559 | 546 | |
| Rest of Europe* The Netherlands Belgium Poland | 88 28 11 | 77 28 11 | 76 28 8 |
| 127 | 116 | 112 | |
| Group Total | 686 | 675 | 658 |
| 2008/2009 | 2007/2008 | ||
| Store Space (knsf) | 2 August 2008 | 3 May 2008 | 27 October 2007 |
| UK & RoI Carpetright Concessions Storeys | 3,959 115 386 | 3,963 121 387 | 3,888 139 370 |
| 4,460 | 4,471 | 4,397 | |
| Rest of Europe* The Netherlands Belgium Poland | 1,067 335 115 | 895 335 115 | 888 337 83 |
| 1,517 | 1,345 | 1,308 | |
| Group Total | 5,977 | 5,816 | 5,705 |
* excludes joint venture in Germany